The Manufacturers Life Insurance Company Raises Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,910,127 shares of the oil and gas producer's stock after purchasing an additional 1,442,000 shares during the quarter. Canadian Natural Resources accounts for approximately 0.8% of The Manufacturers Life Insurance Company's portfolio, making the stock its 14th largest position. The Manufacturers Life Insurance Company owned about 1.42% of Canadian Natural Resources worth $924,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Canadian Natural Resources by 6,902.0% in 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 purchasing an additional 3,600,686 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 buying an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Canadian Natural Resources by 30.1% in 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, T. Rowe Price Investment Management Inc. lifted its holdings in Canadian Natural Resources by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after acquiring an additional 2,312,437 shares during the period. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Up 0.2 %

Shares of CNQ traded up $0.07 during mid-day trading on Friday, reaching $28.99. The company's stock had a trading volume of 4,351,372 shares, compared to its average volume of 5,378,417. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $39.20. The stock has a market cap of $60.81 billion, a PE ratio of 11.26 and a beta of 1.10. The company's fifty day moving average price is $28.84 and its two-hundred day moving average price is $31.06. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a dividend of $0.4117 per share. This is a boost from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources's dividend payout ratio (DPR) is 77.88%.

Analyst Ratings Changes

CNQ has been the topic of several research reports. Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Wednesday, April 9th. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. 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. Finally, Royal Bank of Canada restated an "outperform" rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently 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).