Envestnet Asset Management Inc. Lowers Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Envestnet Asset Management Inc. cut its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 8.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,525,432 shares of the oil and gas producer's stock after selling 136,366 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Canadian Natural Resources worth $47,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CNQ. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter worth $25,000. Continuum Advisory LLC raised its holdings in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 490 shares in the last quarter. Sandy Spring Bank purchased a new position in Canadian Natural Resources during the fourth quarter valued at $31,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Canadian Natural Resources during the 4th quarter valued at $31,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock traded up $1.12 during mid-day trading on Wednesday, reaching $28.47. 1,260,754 shares of the stock traded hands, compared to its average volume of 7,419,940. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.37. The business's 50-day moving average is $29.14 and its 200-day moving average is $31.65. 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 stock has a market capitalization of $59.71 billion, a PE ratio of 11.06 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. Investors of record on Friday, March 21st were issued a $0.4117 dividend. This is an increase 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 dividend on an annualized basis and a dividend yield of 5.79%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 77.88%.

Analysts Set New Price Targets

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

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).