Ninepoint Partners LP Sells 1,717,207 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Ninepoint Partners LP decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,885,899 shares of the oil and gas producer's stock after selling 1,717,207 shares during the quarter. Canadian Natural Resources makes up approximately 8.5% of Ninepoint Partners LP's portfolio, making the stock its 3rd biggest position. Ninepoint Partners LP owned 0.09% of Canadian Natural Resources worth $58,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. Fisher Asset Management LLC grew its holdings in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock worth $1,362,332,000 after purchasing an additional 550,242 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Canadian Natural Resources by 5.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer's stock worth $945,965,000 after buying an additional 1,383,478 shares during the period. CIBC Asset Management Inc grew its holdings in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock worth $746,025,000 after acquiring an additional 1,270,945 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Natural Resources by 31.6% in the 4th 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. Finally, Geode Capital Management LLC raised its stake in shares of Canadian Natural Resources by 8.1% during the third quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer's stock valued at $328,807,000 after acquiring an additional 727,798 shares during the last quarter. Institutional investors own 74.03% of the company's stock.

Remove Ads

Canadian Natural Resources Trading Up 0.4 %

CNQ stock traded up $0.12 during mid-day trading on Thursday, reaching $30.84. The company's stock had a trading volume of 5,610,286 shares, compared to its average volume of 5,101,051. Canadian Natural Resources Limited has a 12 month low of $25.62 and a 12 month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The business's 50 day moving average price is $30.10 and its 200 day moving average price is $32.29. The company has a market cap of $64.78 billion, a price-to-earnings ratio of 11.98 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Friday, March 21st. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's payout ratio is presently 77.88%.

Analysts Set New Price Targets

CNQ has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note 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. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday. Finally, Raymond James reiterated a "market perform" rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.00.

Canadian Natural Resources Company 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).