Unigestion Holding SA Trims Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Unigestion Holding SA lessened its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 580,934 shares of the oil and gas producer’s stock after selling 33,876 shares during the quarter. Unigestion Holding SA’s holdings in Canadian Natural Resources were worth $17,901,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Canadian Natural Resources by 6,902.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after buying an additional 3,600,686 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian Natural Resources by 31.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after acquiring an additional 3,224,548 shares during the period. National Bank of Canada FI boosted its holdings in shares of Canadian Natural Resources by 63.5% in the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock valued at $273,417,000 after acquiring an additional 3,198,007 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Canadian Natural Resources by 30.1% in the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after acquiring an additional 2,939,866 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Canadian Natural Resources by 87.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after purchasing an additional 2,064,492 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 7.5 %

Shares of CNQ opened at $27.61 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $58.00 billion, a P/E ratio of 10.72 and a beta of 1.10. The stock’s 50 day moving average is $29.86 and its two-hundred day moving average is $32.06. Canadian Natural Resources Limited has a 12 month low of $25.62 and a 12 month high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were issued a $0.4117 dividend. This represents a $1.65 annualized dividend and a yield of 5.96%. The ex-dividend date was 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%.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James reiterated 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 research report on Wednesday, March 19th. Finally, Evercore ISI raised shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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).