Wells Fargo & Company MN Increases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Wells Fargo & Company MN lifted its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 706,198 shares of the oil and gas producer's stock after buying an additional 66,075 shares during the period. Wells Fargo & Company MN's holdings in Canadian Natural Resources were worth $21,792,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources during the 4th quarter valued at $25,000. Lee Danner & Bass Inc. bought a new stake in Canadian Natural Resources in the 4th quarter worth about $25,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources in the 4th quarter worth about $31,000. CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources during the fourth quarter valued at $31,000. Finally, R Squared Ltd bought a new position in Canadian Natural Resources in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ traded up $0.65 during mid-day trading on Friday, reaching $28.82. The company's stock had a trading volume of 7,661,564 shares, compared to its average volume of 5,426,899. 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 52 week low of $24.65 and a 52 week high of $39.20. The stock has a fifty day moving average of $29.06 and a two-hundred day moving average of $31.59. The firm has a market capitalization of $60.45 billion, a PE ratio of 11.19 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued a dividend of $0.4117 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources's dividend payout ratio (DPR) is 77.88%.

Analysts Set New Price Targets

Several research firms have recently commented on CNQ. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research report on Friday, March 7th. Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources 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).