Nikko Asset Management Americas Inc. Trims Position in Canadian Natural Resources Limited (NYSE:CNQ)

Nikko Asset Management Americas Inc. lowered its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,171 shares of the oil and gas producer’s stock after selling 8,264 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Canadian Natural Resources were worth $1,580,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CNQ. Assenagon Asset Management S.A. boosted its stake 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 buying an additional 3,600,686 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian Natural Resources by 73.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock valued at $260,116,000 after purchasing an additional 3,312,442 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Natural Resources by 31.6% during the fourth 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 purchasing an additional 3,224,548 shares during the last quarter. National Bank of Canada FI raised its stake in Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after purchasing an additional 3,198,007 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $136,994,000 after purchasing an additional 2,064,492 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNQ has been the topic of several research reports. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Royal Bank of Canada raised their price objective on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Trading Up 1.4 %

NYSE:CNQ opened at $29.82 on Tuesday. Canadian Natural Resources Limited has a 12 month low of $25.62 and a 12 month high of $41.29. The business’s 50-day moving average is $30.20 and its two-hundred day moving average is $32.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a market capitalization of $62.63 billion, a PE ratio of 11.58 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a dividend of $0.4117 per share. The ex-dividend date is Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.52%. Canadian Natural Resources’s payout ratio is 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).