Scheer Rowlett & Associates Investment Management Ltd. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 890,610 shares of the oil and gas producer's stock after purchasing an additional 12,265 shares during the quarter. Canadian Natural Resources comprises about 2.0% of Scheer Rowlett & Associates Investment Management Ltd.'s portfolio, making the stock its 21st biggest holding. Scheer Rowlett & Associates Investment Management Ltd.'s holdings in Canadian Natural Resources were worth $27,461,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently 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 about $13,700,000. Principal Securities Inc. increased its holdings 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 increased its holdings 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 increased its holdings 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 increased its holdings 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.
Canadian Natural Resources Stock Performance
Shares of NYSE CNQ traded up $0.51 during trading hours on Wednesday, reaching $29.24. The stock had a trading volume of 7,775,585 shares, compared to its average volume of 5,036,282. The business's fifty day moving average is $30.38 and its two-hundred day moving average is $32.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market cap of $61.41 billion, a price-to-earnings ratio of 11.35 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.4117 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 5.63%. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.
Wall Street Analysts Forecast Growth
CNQ has been the subject of several recent research reports. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Royal Bank of Canada boosted their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Finally, Raymond James reissued a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $63.00.
Get Our Latest Analysis on CNQ
Canadian Natural Resources Company Profile
(
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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