TD Waterhouse Canada Inc. Raises Stake in Canadian Natural Resources Limited (NYSE:CNQ)

TD Waterhouse Canada Inc. lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,122,380 shares of the oil and gas producer's stock after buying an additional 298,448 shares during the quarter. Canadian Natural Resources comprises approximately 1.5% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 15th largest holding. TD Waterhouse Canada Inc. owned about 0.29% of Canadian Natural Resources worth $188,421,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNQ. FMR LLC increased its stake 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 purchasing an additional 7,372,718 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Canadian Natural Resources by 6,902.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer's stock worth $112,763,000 after buying an additional 3,600,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Canadian Natural Resources by 31.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after acquiring an additional 3,224,548 shares during the period. Geode Capital Management LLC increased its holdings in shares of Canadian Natural Resources by 30.1% during the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer's stock valued at $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ traded up $0.05 during midday trading on Friday, reaching $29.36. The company's stock had a trading volume of 3,750,877 shares, compared to its average volume of 5,384,673. 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 stock has a market capitalization of $61.59 billion, a P/E ratio of 11.40 and a beta of 1.10. The firm has a 50 day moving average price of $28.91 and a 200-day moving average price of $31.33. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $39.20.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Friday, March 21st. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio is 77.88%.

Analysts Set New Price Targets

CNQ has been the topic of a number of recent research reports. 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. 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 restated an "outperform" rating and issued a $63.00 target price 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 report on Wednesday, March 19th. Finally, Raymond James upgraded 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 issued a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus 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).