Canadian Natural Resources Limited (NYSE:CNQ) Holdings Increased by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 43.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,605 shares of the oil and gas producer’s stock after acquiring an additional 19,382 shares during the period. NewEdge Advisors LLC’s holdings in Canadian Natural Resources were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in 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 period. Assenagon Asset Management S.A. lifted its holdings in shares of Canadian Natural Resources by 6,902.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after buying an additional 3,600,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 valued at $414,223,000 after buying an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC grew its holdings in Canadian Natural Resources by 30.1% during the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after acquiring an additional 2,939,866 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Canadian Natural Resources by 87.0% in the fourth 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 acquiring an additional 2,064,492 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CNQ shares. 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. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Canadian Natural Resources Trading Up 2.1 %

NYSE CNQ opened at $29.27 on Wednesday. The firm’s 50 day moving average price is $28.97 and its two-hundred day moving average price is $31.44. 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 Limited has a twelve month low of $24.65 and a twelve month high of $39.20. The stock has a market cap of $61.40 billion, a price-to-earnings ratio of 11.37 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a dividend of $0.4117 per share. This represents a $1.65 annualized dividend and a yield of 5.63%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 21st. Canadian Natural Resources’s payout ratio is presently 77.88%.

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).