Price T Rowe Associates Inc. MD Purchases 126,375 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% in the fourth quarter, Holdings Channel reports. The firm owned 7,200,099 shares of the oil and gas producer’s stock after purchasing an additional 126,375 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Canadian Natural Resources were worth $222,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CNQ. FMR LLC raised its stake in shares of 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 valued at $2,857,337,000 after acquiring an additional 7,372,718 shares during the last quarter. Principal Securities Inc. lifted its holdings in Canadian Natural Resources by 595.2% in the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock valued at $216,000 after buying an additional 5,982 shares during the period. SG Americas Securities LLC raised its position in shares of Canadian Natural Resources by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after acquiring an additional 17,694 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after purchasing an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake 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 acquiring an additional 2,064,492 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 0.2 %

CNQ opened at $29.36 on Friday. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $39.20. The company’s 50 day moving average is $28.91 and its 200-day moving average is $31.33. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market cap of $61.59 billion, a P/E ratio of 11.40 and a beta of 1.10.

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 5.61%. The ex-dividend date of this dividend 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 Analyst Weigh In

Several equities research analysts have issued reports on CNQ shares. Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus 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).