GQG Partners LLC Purchases New Stake in Canadian Natural Resources Limited (NYSE:CNQ)

GQG Partners LLC purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 184,371 shares of the oil and gas producer’s stock, valued at approximately $5,689,000.

Several other hedge funds also recently modified their holdings of CNQ. Kingsview Wealth Management LLC grew its stake in shares of Canadian Natural Resources by 4.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares in the last quarter. Fifth Third Bancorp grew its position in Canadian Natural Resources by 51.0% in the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 429 shares in the last quarter. Assetmark Inc. increased its stake in Canadian Natural Resources by 57.3% in the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 439 shares during the last quarter. Pitcairn Co. lifted its position in shares of Canadian Natural Resources by 1.3% during the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after buying an additional 475 shares in the last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $30.76 on Tuesday. The company has a market cap of $64.60 billion, a PE ratio of 11.94 and a beta of 1.48. 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 firm’s 50-day simple moving average is $30.00 and its two-hundred day simple moving average is $32.19. Canadian Natural Resources Limited has a 52 week low of $25.62 and a 52 week high of $41.29.

Canadian Natural Resources Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.35%. Canadian Natural Resources’s dividend payout ratio (DPR) is 77.88%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CNQ shares. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada raised their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Finally, Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.00.

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).