Sequoia Financial Advisors LLC Has $1.92 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Sequoia Financial Advisors LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 34.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,168 shares of the oil and gas producer's stock after buying an additional 16,029 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Canadian Natural Resources were worth $1,919,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC bought a new position in Canadian Natural Resources in the 4th quarter valued at about $16,510,000. Independent Advisor Alliance acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $256,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Canadian Natural Resources by 5.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 772,375 shares of the oil and gas producer's stock valued at $23,834,000 after purchasing an additional 43,130 shares in the last quarter. Amundi boosted its stake in shares of Canadian Natural Resources by 1.7% in the 4th quarter. Amundi now owns 7,087,352 shares of the oil and gas producer's stock valued at $231,260,000 after purchasing an additional 116,731 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Canadian Natural Resources by 1.4% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 890,610 shares of the oil and gas producer's stock valued at $27,461,000 after purchasing an additional 12,265 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNQ. Scotiabank upgraded shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Raymond James restated a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $63.00.

Canadian Natural Resources Trading Up 2.2 %

NYSE:CNQ traded up $0.67 during mid-day trading on Wednesday, hitting $30.66. 19,616,315 shares of the company's stock were exchanged, compared to its average volume of 5,089,288. The company has a 50 day simple moving average of $30.14 and a 200-day simple moving average of $32.30. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The firm has a market capitalization of $64.40 billion, a P/E ratio of 11.91 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.37%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's payout ratio is 77.88%.

Canadian Natural Resources Company 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).