Mitsubishi UFJ Trust & Banking Corp Invests $643,000 in Canadian Natural Resources Limited (NYSE:CNQ)

Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,800 shares of the oil and gas producer's stock, valued at approximately $643,000.

Several other hedge funds have also recently modified their holdings of CNQ. Duncker Streett & Co. Inc. bought a new position in Canadian Natural Resources in the 4th quarter valued at $25,000. Lee Danner & Bass Inc. bought a new position in Canadian Natural Resources during the fourth quarter valued at about $25,000. Continuum Advisory LLC increased its holdings 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 buying an additional 490 shares during the last quarter. Sandy Spring Bank bought a new stake in Canadian Natural Resources in the fourth quarter worth about $31,000. Finally, CoreFirst Bank & Trust purchased a new position in Canadian Natural Resources in the fourth quarter valued at about $31,000. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded down $2.25 during mid-day trading on Friday, hitting $27.61. 8,879,222 shares of the company traded hands, compared to its average volume of 5,504,922. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a one year low of $25.62 and a one year high of $41.29. The stock has a market cap of $58.00 billion, a price-to-earnings ratio of 10.72 and a beta of 1.10. The stock has a fifty day moving average price of $29.86 and a 200-day moving average price of $32.05.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date was Friday, March 21st. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio is currently 77.88%.

Wall Street Analyst Weigh In

CNQ has been the topic of several research analyst reports. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Raymond James reaffirmed a "market perform" rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $63.00.

About Canadian Natural Resources

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).