Capital World Investors Cuts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Capital World Investors lowered its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 266,354,752 shares of the oil and gas producer’s stock after selling 12,542,665 shares during the period. Canadian Natural Resources comprises about 1.2% of Capital World Investors’ portfolio, making the stock its 12th largest holding. Capital World Investors owned approximately 0.13% of Canadian Natural Resources worth $8,222,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Canadian Natural Resources by 23.4% during the third quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer’s stock valued at $23,800,000 after acquiring an additional 136,107 shares during the last quarter. Virtu Financial LLC purchased a new stake in Canadian Natural Resources during the third quarter worth about $579,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $37,000. Tidal Investments LLC raised its holdings in shares of Canadian Natural Resources by 55.0% in the 3rd quarter. Tidal Investments LLC now owns 26,832 shares of the oil and gas producer’s stock worth $891,000 after purchasing an additional 9,526 shares during the period. Finally, Synovus Financial Corp purchased a new position in Canadian Natural Resources in the third quarter valued at approximately $219,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $28.82 on Friday. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $39.20. The stock has a fifty day moving average of $29.02 and a 200 day moving average of $31.55. 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 firm has a market capitalization of $60.45 billion, a price-to-earnings ratio of 11.19 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Friday, March 21st. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is currently 77.88%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 9th. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Finally, Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” 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).