Nuveen Asset Management LLC Trims Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Nuveen Asset Management LLC lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,321,450 shares of the oil and gas producer's stock after selling 12,871 shares during the period. Nuveen Asset Management LLC owned 0.11% of Canadian Natural Resources worth $71,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of CNQ. FMR LLC raised its stake in shares of 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 worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in 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 valued at $414,223,000 after acquiring an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $400,222,000 after purchasing an additional 2,939,866 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Canadian Natural Resources by 7.3% during the 4th 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. Finally, Bank of New York Mellon Corp increased its stake 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 and hedge funds own 74.03% of the company's stock.

Analysts Set New Price Targets

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

Canadian Natural Resources Trading Up 0.2%

Shares of CNQ traded up $0.05 during mid-day trading on Wednesday, reaching $30.73. 9,474,041 shares of the company were exchanged, compared to its average volume of 5,518,703. The business has a 50 day simple moving average of $29.37 and a two-hundred day simple moving average of $30.65. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $38.86. The stock has a market capitalization of $64.36 billion, a PE ratio of 11.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

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

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Friday, June 13th will be given a $0.4227 dividend. This represents a $1.69 annualized dividend and a dividend yield of 5.50%. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources's payout ratio is presently 63.92%.

About Canadian Natural Resources

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).