Capital International Investors Cuts Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Capital International Investors trimmed its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 99.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,090 shares of the oil and gas producer's stock after selling 3,430,787 shares during the period. Capital International Investors' holdings in Canadian Natural Resources were worth $589,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC lifted its holdings 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 period. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $112,763,000 after acquiring an additional 3,600,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canadian Natural Resources by 31.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock worth $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC increased its stake in Canadian Natural Resources by 30.1% in the 4th 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 purchasing an additional 2,939,866 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Canadian Natural Resources by 87.0% during the fourth 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 during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNQ has been the topic of several research reports. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Scotiabank raised Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Trading Up 0.2 %

Shares of NYSE CNQ traded up $0.05 on Friday, reaching $29.36. 3,750,877 shares of the company traded hands, compared to its average volume of 5,384,673. The company has a 50 day moving average of $28.91 and a 200 day moving average of $31.33. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $39.20. The stock has a market capitalization of $61.59 billion, a PE ratio of 11.40 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were issued a $0.4117 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.61%. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio (DPR) is presently 77.88%.

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).