Wealthfront Advisers LLC Invests $16.51 Million in Canadian Natural Resources Limited (NYSE:CNQ)

Wealthfront Advisers LLC purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 534,820 shares of the oil and gas producer’s stock, valued at approximately $16,510,000.

Other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC grew its position in shares of Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 419 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Canadian Natural Resources by 51.0% during the fourth quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 429 shares during the period. Assetmark Inc. lifted its position in shares of Canadian Natural Resources by 57.3% during the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 439 shares during the last quarter. Pitcairn Co. increased its position in shares of Canadian Natural Resources by 1.3% during the third quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 475 shares during the period. Finally, Continuum Advisory LLC raised its position 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 purchasing an additional 490 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $28.71 on Wednesday. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The company has a market cap of $60.30 billion, a PE ratio of 11.15 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. The business has a 50-day simple moving average of $30.38 and a two-hundred day simple moving average of $32.56.

Canadian Natural Resources Increases Dividend

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

Analyst Upgrades and Downgrades

CNQ has been the subject of several recent research reports. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada increased their price target 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, March 7th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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).