TD Asset Management Inc. Boosts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

TD Asset Management Inc. grew its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,504,611 shares of the oil and gas producer's stock after acquiring an additional 89,612 shares during the period. Canadian Natural Resources accounts for 1.2% of TD Asset Management Inc.'s holdings, making the stock its 15th biggest holding. TD Asset Management Inc. owned about 2.02% of Canadian Natural Resources worth $1,311,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. bought a new position in Canadian Natural Resources in the fourth quarter worth approximately $25,000. Continuum Advisory LLC raised its stake in Canadian Natural Resources by 144.1% in 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 in the last quarter. Sandy Spring Bank bought a new stake in Canadian Natural Resources during the 4th quarter valued at $31,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at $31,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

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Canadian Natural Resources Stock Performance

NYSE:CNQ traded down $0.40 during midday trading on Friday, hitting $30.55. The company's stock had a trading volume of 6,077,745 shares, compared to its average volume of 5,517,741. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The firm's 50 day moving average is $29.98 and its 200-day moving average is $32.14. The firm has a market cap of $64.16 billion, a P/E ratio of 11.86 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a dividend of $0.4117 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is 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 (DPR) is 77.88%.

Wall Street Analysts Forecast Growth

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

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).