M&T Bank Corp reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,009 shares of the oil and gas producer's stock after selling 16,370 shares during the quarter. M&T Bank Corp's holdings in Canadian Natural Resources were worth $3,438,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of CNQ. Fisher Asset Management LLC raised its holdings in Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock valued at $1,362,332,000 after acquiring an additional 550,242 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Canadian Natural Resources by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer's stock valued at $945,965,000 after acquiring an additional 1,383,478 shares during the period. CIBC Asset Management Inc raised its holdings in Canadian Natural Resources by 5.6% during the fourth 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 period. Geode Capital Management LLC raised its holdings in Canadian Natural Resources by 8.1% during the third quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer's stock valued at $328,807,000 after acquiring an additional 727,798 shares during the period. Finally, National Bank of Canada FI raised its holdings in Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer's stock valued at $273,417,000 after acquiring an additional 3,198,007 shares during the period. 74.03% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on CNQ shares. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Evercore ISI upgraded Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday. Finally, Royal Bank of Canada raised their price objective on Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $63.00.
Get Our Latest Stock Report on CNQ
Canadian Natural Resources Trading Up 1.3 %
Shares of Canadian Natural Resources stock opened at $28.33 on Friday. The firm has a market cap of $59.56 billion, a price-to-earnings ratio of 11.00 and a beta of 1.48. The business has a 50-day moving average price of $30.46 and a 200-day moving average price of $32.69. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a $0.4117 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 5.81%. 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 61.87%.
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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