First Trust Advisors LP Sells 202,317 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

First Trust Advisors LP lessened its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 26.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 563,701 shares of the oil and gas producer's stock after selling 202,317 shares during the period. First Trust Advisors LP's holdings in Canadian Natural Resources were worth $17,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $4,794,000. Capital International Sarl raised its position in Canadian Natural Resources by 10.2% during the fourth quarter. Capital International Sarl now owns 446,400 shares of the oil and gas producer's stock valued at $13,775,000 after purchasing an additional 41,240 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Canadian Natural Resources by 0.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 321,969 shares of the oil and gas producer's stock worth $9,910,000 after purchasing an additional 1,820 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock valued at $1,139,753,000 after purchasing an additional 1,844,700 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Canadian Natural Resources by 38.1% in the 4th quarter. Marshall Wace LLP now owns 690,405 shares of the oil and gas producer's stock valued at $21,313,000 after purchasing an additional 190,411 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Up 0.2 %

Shares of CNQ stock traded up $0.05 during trading hours on Friday, hitting $28.97. 1,181,601 shares of the company's stock traded hands, compared to its average volume of 7,072,867. 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 Limited has a 12 month low of $24.65 and a 12 month high of $39.20. The stock has a market cap of $60.76 billion, a PE ratio of 11.25 and a beta of 1.10. The stock's 50 day simple moving average is $28.84 and its 200 day simple moving average is $31.11.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were given a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date was Friday, March 21st. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's payout ratio is 77.88%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNQ. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Scotiabank upgraded 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 cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James upgraded shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday, April 9th. Finally, Evercore ISI raised 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 stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of "Moderate Buy" and a consensus target price 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).