Groupama Asset Managment reduced its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 51.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,105 shares of the oil and gas producer's stock after selling 56,859 shares during the quarter. Groupama Asset Managment's holdings in Canadian Natural Resources were worth $1,645,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new position in Canadian Natural Resources in the 4th quarter worth about $25,000. Continuum Advisory LLC boosted its position in Canadian Natural Resources by 144.1% during 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 acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Canadian Natural Resources Stock Down 4.0 %
Canadian Natural Resources stock traded down $1.11 during trading on Monday, reaching $26.47. The stock had a trading volume of 3,980,350 shares, compared to its average volume of 5,497,747. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $29.86 and a 200 day moving average price of $32.05. The stock has a market cap of $55.60 billion, a PE ratio of 10.26 and a beta of 1.10. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29.
Canadian Natural Resources Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a dividend of $0.4117 per share. The ex-dividend date was Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 6.22%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's payout ratio is 77.88%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. 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. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Finally, Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $63.00.
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Canadian Natural Resources Profile
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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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