Bowen Hanes & Co. Inc. Sells 1,256,870 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Bowen Hanes & Co. Inc. lowered its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 89.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 141,100 shares of the oil and gas producer's stock after selling 1,256,870 shares during the period. Bowen Hanes & Co. Inc.'s holdings in Canadian Natural Resources were worth $4,356,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in shares of Canadian Natural Resources by 6,902.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer's stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian Natural Resources by 73.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer's stock worth $260,116,000 after acquiring an additional 3,312,442 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Canadian Natural Resources by 31.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after acquiring an additional 3,224,548 shares during the period. National Bank of Canada FI raised its stake in shares of Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer's stock valued at $273,417,000 after acquiring an additional 3,198,007 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Canadian Natural Resources by 87.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after purchasing an additional 2,064,492 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

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Analyst Ratings Changes

CNQ has been the topic of a number of recent analyst reports. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Finally, Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $63.00.

Canadian Natural Resources Stock Up 1.4 %

NYSE CNQ traded up $0.41 during trading hours on Monday, reaching $29.82. 5,879,201 shares of the company's stock traded hands, compared to its average volume of 5,002,571. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a 50-day simple moving average of $30.25 and a 200 day simple moving average of $32.40. The firm has a market cap of $62.63 billion, a PE ratio of 11.58 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.4117 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources's payout ratio is currently 77.88%.

Canadian Natural Resources Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).