Legal & General Group Plc lowered its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 37.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,711,282 shares of the oil and gas producer's stock after selling 4,634,073 shares during the quarter. Legal & General Group Plc owned about 0.37% of Canadian Natural Resources worth $237,956,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in CNQ. FMR LLC lifted its position in shares of Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. increased its stake in Canadian Natural Resources by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock worth $2,778,729,000 after acquiring an additional 456,814 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Canadian Natural Resources by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock worth $1,362,332,000 after acquiring an additional 550,242 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Canadian Natural Resources by 5.6% during 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 acquiring an additional 1,270,945 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Canadian Natural Resources by 4.5% in the fourth quarter. JPMorgan Chase & Co. now owns 13,893,962 shares of the oil and gas producer's stock valued at $428,907,000 after purchasing an additional 603,314 shares in the last quarter. Institutional investors own 74.03% of the company's stock.
Canadian Natural Resources Trading Up 0.3 %
NYSE:CNQ traded up $0.09 during mid-day trading on Monday, hitting $27.27. 1,379,454 shares of the stock traded hands, compared to its average volume of 5,461,348. 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 stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 10.59 and a beta of 1.10. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $39.79. The firm's 50 day moving average is $29.29 and its two-hundred day moving average is $31.72.
Canadian Natural Resources Increases Dividend
The firm also recently declared 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 annualized dividend and a dividend yield of 6.04%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources's dividend payout ratio is presently 77.88%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $63.00.
Check Out Our Latest Stock Analysis on Canadian Natural Resources
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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