Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Capital International Investors

Capital International Investors cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 99.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,090 shares of the oil and gas producer's stock after selling 3,430,787 shares during the quarter. Capital International Investors' holdings in Canadian Natural Resources were worth $589,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CNQ. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in Canadian Natural Resources in the 4th quarter worth approximately $31,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources during the 4th quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in Canadian Natural Resources during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CNQ shares. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded up $0.05 during trading on Friday, reaching $29.36. 3,488,483 shares of the company's stock traded hands, compared to its average volume of 5,383,859. 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 fifty-two week low of $24.65 and a fifty-two week high of $39.20. The company has a 50-day simple moving average of $28.94 and a 200-day simple moving average of $31.38. The firm has a market cap of $61.59 billion, a PE ratio of 11.40 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a $0.4117 dividend. The ex-dividend date of this dividend was Friday, March 21st. 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 5.61%. Canadian Natural Resources's payout ratio is 77.88%.

About Canadian Natural Resources

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).