Ameriprise Financial Inc. Has $203.16 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Ameriprise Financial Inc. cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,581,118 shares of the oil and gas producer's stock after selling 86,469 shares during the quarter. Ameriprise Financial Inc. owned 0.31% of Canadian Natural Resources worth $203,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Canadian Natural Resources by 23.4% in the 3rd quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer's stock valued at $23,800,000 after buying an additional 136,107 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Canadian Natural Resources during the third quarter worth approximately $37,000. Tidal Investments LLC raised its holdings in shares of Canadian Natural Resources by 55.0% in the 3rd quarter. Tidal Investments LLC now owns 26,832 shares of the oil and gas producer's stock valued at $891,000 after purchasing an additional 9,526 shares in the last quarter. Synovus Financial Corp acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth about $219,000. Finally, JTC Employer Solutions Trustee Ltd increased its stake in Canadian Natural Resources by 100.0% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 4,000 shares of the oil and gas producer's stock valued at $121,000 after purchasing an additional 2,000 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 3.0%

Shares of CNQ traded up $0.93 during mid-day trading on Monday, reaching $31.44. 1,963,794 shares of the stock traded hands, compared to its average volume of 6,998,542. The stock has a fifty day simple moving average of $28.98 and a 200 day simple moving average of $30.78. The firm has a market cap of $65.85 billion, a price-to-earnings ratio of 12.21 and a beta of 1.04. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $38.86. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $10.14 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period in the previous year, the company earned $1.37 earnings per share. Sell-side analysts expect that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be issued a $0.4227 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 5.38%. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 13th. Canadian Natural Resources's payout ratio is 63.92%.

Analysts Set New Price Targets

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