MML Investors Services LLC Boosts Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

MML Investors Services LLC grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 55,045 shares of the oil and gas producer’s stock after buying an additional 528 shares during the period. MML Investors Services LLC’s holdings in Canadian Natural Resources were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Canadian Natural Resources by 51.0% in the fourth quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 429 shares during the period. Assetmark Inc. raised its stake in shares of Canadian Natural Resources by 57.3% during the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 439 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Canadian Natural Resources by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock worth $2,530,000 after purchasing an additional 497 shares during the period. Global Retirement Partners LLC grew its position in Canadian Natural Resources by 4.5% in the 4th quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer’s stock valued at $370,000 after buying an additional 514 shares in the last quarter. Finally, Waterfront Wealth Inc. increased its stake in Canadian Natural Resources by 1.8% during the 4th quarter. Waterfront Wealth Inc. now owns 30,132 shares of the oil and gas producer’s stock valued at $930,000 after buying an additional 520 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $29.31 on Wednesday. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $39.20. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $61.48 billion, a PE ratio of 11.38 and a beta of 1.10. The business has a fifty day simple moving average of $28.87 and a 200-day simple moving average of $31.18.

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 given a dividend of $0.4117 per share. The ex-dividend date was Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.62%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 77.88%.

Wall Street Analyst Weigh In

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

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).