CIBC Private Wealth Group LLC Acquires 17,883 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

CIBC Private Wealth Group LLC increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 41.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 61,038 shares of the oil and gas producer’s stock after acquiring an additional 17,883 shares during the period. CIBC Private Wealth Group LLC’s holdings in Canadian Natural Resources were worth $1,992,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CNQ. Duncker Streett & Co. Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources in the 4th quarter worth about $25,000. Continuum Advisory LLC lifted its holdings in Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares in the last quarter. Sandy Spring Bank purchased a new stake in Canadian Natural Resources in the 4th quarter valued at about $31,000. Finally, CoreFirst Bank & Trust bought a new position in Canadian Natural Resources in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNQ. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Evercore ISI upgraded 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 given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.00.

Canadian Natural Resources Price Performance

CNQ opened at $31.43 on Thursday. The firm has a market capitalization of $66.02 billion, a PE ratio of 12.21 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The business’s 50-day moving average is $29.96 and its two-hundred day moving average is $32.11. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 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. Stockholders of record on Friday, March 21st will be given a $0.4117 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is presently 77.88%.

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).