Alyeska Investment Group L.P. Reduces Position in Canadian Natural Resources Limited (NYSE:CNQ)

Alyeska Investment Group L.P. reduced its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 30.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,724,960 shares of the oil and gas producer's stock after selling 756,425 shares during the period. Alyeska Investment Group L.P. owned about 0.08% of Canadian Natural Resources worth $53,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CNQ. FMR LLC lifted its position in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after acquiring an additional 7,372,718 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Canadian Natural Resources by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock valued at $2,778,729,000 after purchasing an additional 456,814 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Canadian Natural Resources by 1.3% in the 4th 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 purchasing an additional 550,242 shares during the period. Canada Pension Plan Investment Board increased its position in Canadian Natural Resources by 5.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock worth $1,139,753,000 after buying an additional 1,844,700 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock valued at $1,051,210,000 after buying an additional 2,312,437 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $28.99 on Friday. The company has a market capitalization of $60.81 billion, a price-to-earnings ratio of 11.26 and a beta of 1.10. 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 1-year low of $24.65 and a 1-year high of $39.20. The business has a 50-day moving average of $28.84 and a 200-day moving average of $31.03.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were paid a $0.4117 dividend. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 5.68%. Canadian Natural Resources's payout ratio is 77.88%.

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).

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