Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,262,749 shares of the oil and gas producer's stock after selling 34,930 shares during the quarter. Franklin Resources Inc. owned 0.16% of Canadian Natural Resources worth $100,646,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 429 shares during the last quarter. Assetmark Inc. lifted its position in shares of Canadian Natural Resources by 57.3% during the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 439 shares during the last quarter. Continuum Advisory LLC grew its stake 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. Orion Portfolio Solutions LLC increased its holdings in Canadian Natural Resources by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer's stock valued at $2,530,000 after buying an additional 497 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Canadian Natural Resources by 4.5% during the 4th quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer's stock worth $370,000 after buying an additional 514 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

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Analyst Upgrades and Downgrades

CNQ has been the topic of several 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. 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James restated a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.00.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock traded down $1.04 during midday trading on Monday, reaching $26.54. 3,724,028 shares of the stock traded hands, compared to its average volume of 5,496,656. The firm has a fifty day moving average price of $29.86 and a two-hundred day moving average price of $32.05. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 10.31 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a dividend of $0.4117 per share. The ex-dividend date was Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 6.21%. 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%.

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).