Marietta Investment Partners LLC lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,911 shares of the oil and gas producer's stock after selling 21,332 shares during the period. Marietta Investment Partners LLC's holdings in Canadian Natural Resources were worth $2,436,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Old West Investment Management LLC grew its position in Canadian Natural Resources by 73.9% during the third quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer's stock valued at $11,822,000 after purchasing an additional 151,237 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Canadian Natural Resources by 49.3% in the third quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer's stock worth $309,000 after buying an additional 3,076 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Canadian Natural Resources by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 82,310 shares of the oil and gas producer's stock valued at $2,734,000 after purchasing an additional 1,306 shares during the last quarter. Avior Wealth Management LLC raised its holdings in Canadian Natural Resources by 37.3% in the 3rd quarter. Avior Wealth Management LLC now owns 21,995 shares of the oil and gas producer's stock worth $730,000 after acquiring an additional 5,980 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Canadian Natural Resources by 4.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 49,142 shares of the oil and gas producer's stock valued at $1,632,000 after purchasing an additional 1,893 shares during the period. Institutional investors and hedge funds own 74.03% of the company's stock.
Wall Street Analysts Forecast Growth
CNQ has been the topic of a number of recent research reports. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Tudor Pickering lowered shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Royal Bank of Canada lifted their target price on Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $63.00.
View Our Latest Stock Report on CNQ
Canadian Natural Resources Trading Up 0.6 %
Shares of Canadian Natural Resources stock traded up $0.18 during trading on Wednesday, reaching $31.30. 7,997,244 shares of the company were exchanged, compared to its average volume of 5,174,768. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29. The firm has a market capitalization of $65.74 billion, a price-to-earnings ratio of 12.15 and a beta of 1.48. The business has a 50-day moving average price of $29.99 and a 200-day moving average price of $32.17.
Canadian Natural Resources Increases Dividend
The firm 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 dividend of $0.4117 per share. The ex-dividend date is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.26%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.
About Canadian Natural Resources
(
Free Report)
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).
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