Russell Investments Group Ltd. cut its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,664,644 shares of the oil and gas producer's stock after selling 130,653 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Canadian Natural Resources worth $51,373,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hurley Capital LLC purchased a new stake in Canadian Natural Resources in the fourth quarter valued at $31,000. Old West Investment Management LLC lifted its holdings in shares of Canadian Natural Resources by 11.0% in the 4th quarter. Old West Investment Management LLC now owns 395,161 shares of the oil and gas producer's stock valued at $12,199,000 after buying an additional 39,178 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Canadian Natural Resources by 10.3% in the fourth quarter. Wells Fargo & Company MN now owns 706,198 shares of the oil and gas producer's stock worth $21,792,000 after buying an additional 66,075 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Canadian Natural Resources during the fourth quarter worth about $775,000. Finally, Huntington National Bank raised its position in Canadian Natural Resources by 64.1% during the fourth quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer's stock valued at $46,000 after acquiring an additional 583 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.
Canadian Natural Resources Price Performance
Canadian Natural Resources stock traded up $1.01 during trading on Friday, reaching $27.18. The company had a trading volume of 7,524,305 shares, compared to its average volume of 5,504,324. The firm has a market capitalization of $57.02 billion, a PE ratio of 10.56 and a beta of 1.10. The firm's 50-day simple moving average is $29.29 and its 200 day simple moving average is $31.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $41.01.
Canadian Natural Resources Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a $0.4117 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 6.06%. Canadian Natural Resources's dividend payout ratio (DPR) is 77.88%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on CNQ shares. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Tudor Pickering lowered 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 reiterated an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $63.00.
View Our Latest Stock Report on Canadian Natural Resources
About Canadian Natural Resources
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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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