Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 43.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,605 shares of the oil and gas producer's stock after acquiring an additional 19,382 shares during the quarter. NewEdge Advisors LLC's holdings in Canadian Natural Resources were worth $1,963,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Duncker Streett & Co. Inc. acquired a new position in Canadian Natural Resources during the fourth quarter worth approximately $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources during the fourth quarter worth approximately $25,000. Sandy Spring Bank purchased a new position in Canadian Natural Resources during the fourth quarter worth approximately $31,000. CoreFirst Bank & Trust purchased a new position in Canadian Natural Resources during the fourth quarter worth approximately $31,000. Finally, Hurley Capital LLC purchased a new position in Canadian Natural Resources during the fourth quarter worth approximately $31,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNQ. Tudor Pickering downgraded shares of 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 research note on Thursday, March 27th. Evercore ISI raised shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Finally, Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the 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 Stock Up 0.9 %

Canadian Natural Resources stock traded up $0.27 during midday trading on Monday, hitting $29.61. 3,142,841 shares of the stock were exchanged, compared to its average volume of 5,384,450. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $39.20. The firm has a market cap of $62.11 billion, a P/E ratio of 11.50 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. The company has a 50 day moving average price of $28.90 and a two-hundred day moving average price of $31.19.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were paid a dividend of $0.4117 per share. This is an increase 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 yield of 5.56%. 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).