Brandywine Global Investment Management LLC Raises Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Brandywine Global Investment Management LLC lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,713,207 shares of the oil and gas producer’s stock after acquiring an additional 39,796 shares during the period. Brandywine Global Investment Management LLC’s holdings in Canadian Natural Resources were worth $52,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian Natural Resources in the 4th quarter worth $25,000. Continuum Advisory LLC lifted 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 worth $28,000 after acquiring an additional 490 shares during the period. Sandy Spring Bank acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at about $31,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Canadian Natural Resources in the fourth quarter valued at about $31,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNQ has been the topic of several research reports. 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 reissued an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a report 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. Finally, Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Stock Down 1.3 %

Shares of CNQ opened at $30.55 on Friday. The firm has a market cap of $64.16 billion, a P/E ratio of 11.86 and a beta of 1.48. Canadian Natural Resources Limited has a 12 month low of $25.62 and a 12 month high of $41.29. The stock’s 50 day moving average is $29.98 and its two-hundred day moving average is $32.14. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources Increases Dividend

The business 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 $0.4117 dividend. This represents a $1.65 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change 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).