OneDigital Investment Advisors LLC Raises Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

OneDigital Investment Advisors LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 52.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,409 shares of the oil and gas producer's stock after purchasing an additional 10,860 shares during the period. OneDigital Investment Advisors LLC's holdings in Canadian Natural Resources were worth $970,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CNQ. Duncker Streett & Co. Inc. acquired a new position in Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Lee Danner & Bass Inc. acquired a new stake in Canadian Natural Resources during the fourth quarter valued at $25,000. Hurley Capital LLC purchased a new position in Canadian Natural Resources in the fourth quarter valued at $31,000. Sandy Spring Bank acquired a new position in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Canadian Natural Resources during the 4th quarter valued at about $31,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNQ. 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 reissued an "outperform" rating and set a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. 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. Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Finally, Raymond James upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Canadian Natural Resources Trading Up 0.4 %

Shares of CNQ traded up $0.12 during midday trading on Thursday, hitting $28.81. 1,353,505 shares of the stock were exchanged, compared to its average volume of 5,375,496. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a market cap of $60.42 billion, a P/E ratio of 11.22 and a beta of 1.10. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $39.20. The stock has a fifty day simple moving average of $28.84 and a 200 day simple moving average of $31.16.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a dividend of $0.4117 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.72%. The ex-dividend date was Friday, March 21st. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio is currently 77.88%.

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).