Intech Investment Management LLC raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 309,987 shares of the oil and gas producer's stock after acquiring an additional 30,178 shares during the period. Intech Investment Management LLC's holdings in Canadian Natural Resources were worth $9,566,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Holocene Advisors LP acquired a new position in shares of Canadian Natural Resources in the 3rd quarter valued at $13,700,000. Principal Securities Inc. lifted its stake in shares of Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after purchasing an additional 5,982 shares during the period. SG Americas Securities LLC lifted its stake in shares of Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock valued at $9,151,000 after purchasing an additional 17,694 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Canadian Natural Resources by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after purchasing an additional 1,270,945 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock valued at $136,994,000 after purchasing an additional 2,064,492 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CNQ shares. Evercore ISI upgraded 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 target price 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. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday. Finally, Raymond James restated a "market perform" rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.00.
Check Out Our Latest Analysis on Canadian Natural Resources
Canadian Natural Resources Price Performance
NYSE:CNQ traded down $0.49 during trading hours on Friday, reaching $30.33. 10,510,661 shares of the company were exchanged, compared to its average volume of 5,125,769. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock's 50-day moving average is $30.02 and its 200-day moving average is $32.24. The firm has a market cap of $63.70 billion, a PE ratio of 11.78 and a beta of 1.48. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29.
Canadian Natural Resources Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.4117 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.43%. Canadian Natural Resources's dividend payout ratio is presently 77.88%.
About Canadian Natural Resources
(
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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