Canadian Natural Resources Limited (NYSE:CNQ) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 30.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975,880 shares of the oil and gas producer’s stock after acquiring an additional 230,350 shares during the period. Canadian Natural Resources accounts for approximately 1.1% of Intact Investment Management Inc.’s portfolio, making the stock its 23rd largest position. Intact Investment Management Inc.’s holdings in Canadian Natural Resources were worth $30,125,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CNQ. Duncker Streett & Co. Inc. acquired a new position in Canadian Natural Resources in the fourth quarter valued at $25,000. Continuum Advisory LLC boosted its stake in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 490 shares in the last quarter. R Squared Ltd acquired a new position in Canadian Natural Resources in the fourth quarter valued at $32,000. Coastline Trust Co acquired a new position in Canadian Natural Resources in the third quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Canadian Natural Resources in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of research reports. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Royal Bank of Canada upped their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources Trading Down 1.9 %

NYSE CNQ opened at $28.70 on Friday. The stock has a market capitalization of $60.28 billion, a P/E ratio of 11.14 and a beta of 1.48. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29. The firm has a 50-day moving average price of $30.29 and a 200 day moving average price of $32.51. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a dividend of $0.4117 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

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).