Capital World Investors Has $8.22 Billion Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Capital World Investors lowered its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 266,354,752 shares of the oil and gas producer’s stock after selling 12,542,665 shares during the period. Canadian Natural Resources comprises about 1.2% of Capital World Investors’ portfolio, making the stock its 12th biggest holding. Capital World Investors owned about 12.67% of Canadian Natural Resources worth $8,222,956,000 at the end of the most recent quarter.

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

Canadian Natural Resources Stock Up 2.3 %

Shares of NYSE:CNQ opened at $28.82 on Friday. The firm has a market cap of $60.45 billion, a P/E ratio of 11.19 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 business’s 50 day simple moving average is $29.02 and its two-hundred day simple moving average is $31.55. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued a dividend of $0.4117 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 5.72%. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Analyst Upgrades and Downgrades

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

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).