Invesco Ltd. Sells 418,039 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Invesco Ltd. reduced its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 6.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,666,027 shares of the oil and gas producer's stock after selling 418,039 shares during the period. Invesco Ltd. owned about 0.27% of Canadian Natural Resources worth $174,910,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new position in Canadian Natural Resources during the 4th quarter worth approximately $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources during the 4th quarter worth approximately $25,000. Sandy Spring Bank purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth about $31,000. CoreFirst Bank & Trust bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $31,000. Finally, Hurley Capital LLC bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Stock Up 2.3 %

Shares of CNQ traded up $0.65 during trading hours on Thursday, hitting $28.82. The stock had a trading volume of 7,037,239 shares, compared to its average volume of 5,436,742. The firm has a market capitalization of $60.45 billion, a P/E ratio of 11.19 and a beta of 1.10. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $39.37. The firm has a 50 day simple moving average of $29.10 and a 200-day simple moving average of $31.62. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were issued a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.

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).