AGF Management Ltd. Reduces Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

AGF Management Ltd. cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,129,142 shares of the oil and gas producer’s stock after selling 8,239 shares during the quarter. Canadian Natural Resources comprises about 1.1% of AGF Management Ltd.’s holdings, making the stock its 16th biggest holding. AGF Management Ltd. owned about 0.34% of Canadian Natural Resources worth $227,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CNQ. Fisher Asset Management LLC boosted its holdings in shares of Canadian Natural Resources by 1.3% in the fourth 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 buying an additional 550,242 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Canadian Natural Resources by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock worth $945,965,000 after purchasing an additional 1,383,478 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after acquiring an additional 1,270,945 shares in the last quarter. Geode Capital Management LLC grew its holdings in Canadian Natural Resources by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer’s stock worth $328,807,000 after acquiring an additional 727,798 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock valued at $273,417,000 after buying an additional 3,198,007 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CNQ has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday. Finally, Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.00.

Canadian Natural Resources Trading Down 0.3 %

NYSE CNQ opened at $28.29 on Tuesday. The company’s 50 day moving average price is $30.42 and its 200 day moving average price is $32.62. The firm has a market capitalization of $59.42 billion, a price-to-earnings ratio of 10.98 and a beta of 1.48. 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 one year low of $25.62 and a one year high of $41.29.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.4117 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is currently 77.88%.

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).