T. Rowe Price Investment Management Inc. Grows Stake in Canadian Natural Resources Limited (NYSE:CNQ)

T. Rowe Price Investment Management Inc. lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,052,775 shares of the oil and gas producer’s stock after purchasing an additional 2,312,437 shares during the period. T. Rowe Price Investment Management Inc. owned 1.62% of Canadian Natural Resources worth $1,051,210,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. FMR LLC increased 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 buying an additional 7,372,718 shares during the last quarter. Vanguard Group Inc. increased its holdings in Canadian Natural Resources by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock worth $2,778,729,000 after acquiring an additional 456,814 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Canadian Natural Resources by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock worth $1,362,332,000 after acquiring an additional 550,242 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock valued at $1,139,753,000 after acquiring an additional 1,844,700 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in 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 purchasing an additional 1,270,945 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Tudor Pickering lowered 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 shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $29.27 on Wednesday. The firm has a market capitalization of $61.40 billion, a price-to-earnings ratio of 11.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The stock has a fifty day moving average of $28.97 and a 200 day moving average of $31.44. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $39.20.

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 issued a dividend of $0.4117 per share. This is an increase 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 5.63%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources’s payout ratio is currently 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).