HighTower Advisors LLC trimmed its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,246 shares of the oil and gas producer's stock after selling 11,816 shares during the quarter. HighTower Advisors LLC's holdings in Canadian Natural Resources were worth $5,225,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Continuum Advisory LLC grew its stake 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 valued at $28,000 after acquiring an additional 490 shares in the last quarter. R Squared Ltd purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Canadian Natural Resources during the third quarter valued at approximately $37,000. 74.03% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on CNQ. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Royal Bank of Canada boosted their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $63.00.
Check Out Our Latest Research Report on Canadian Natural Resources
Canadian Natural Resources Price Performance
CNQ stock traded down $0.49 during midday trading on Friday, reaching $30.33. The company had a trading volume of 10,510,661 shares, compared to its average volume of 5,131,722. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a market capitalization of $63.70 billion, a P/E ratio of 11.78 and a beta of 1.48. The firm has a 50-day moving average price of $30.02 and a 200-day moving average price of $32.22.
Canadian Natural Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.43%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. Canadian Natural Resources's payout ratio is presently 77.88%.
Canadian Natural Resources Profile
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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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