Robotti Robert Grows Position in Canadian Natural Resources Limited (NYSE:CNQ)

Robotti Robert increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 337,522 shares of the oil and gas producer’s stock after purchasing an additional 505 shares during the quarter. Canadian Natural Resources accounts for approximately 1.8% of Robotti Robert’s portfolio, making the stock its 16th biggest position. Robotti Robert’s holdings in Canadian Natural Resources were worth $10,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Canadian Natural Resources by 4.5% during the fourth quarter. JPMorgan Chase & Co. now owns 13,893,962 shares of the oil and gas producer’s stock valued at $428,907,000 after acquiring an additional 603,314 shares during the last quarter. Mufg Securities Canada LTD. increased its holdings in Canadian Natural Resources by 70.6% in the 4th quarter. Mufg Securities Canada LTD. now owns 3,222,661 shares of the oil and gas producer’s stock valued at $99,431,000 after purchasing an additional 1,334,101 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $643,000. GQG Partners LLC acquired a new position in Canadian Natural Resources during the fourth quarter worth $5,689,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth $31,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $31.30 on Thursday. The company has a market capitalization of $65.74 billion, a price-to-earnings ratio of 12.15 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 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 50 day moving average price of $29.99 and a 200 day moving average price of $32.17.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.26%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is 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).