Canadian Natural Resources Limited (NYSE:CNQ) Stake Reduced by Dividend Assets Capital LLC

Dividend Assets Capital LLC cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,876 shares of the oil and gas producer’s stock after selling 12,381 shares during the period. Canadian Natural Resources accounts for approximately 1.8% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 19th largest holding. Dividend Assets Capital LLC’s holdings in Canadian Natural Resources were worth $9,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC lifted its position in Canadian Natural Resources by 144.1% in 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 during the last quarter. R Squared Ltd acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $32,000. Coastline Trust Co bought a new stake in shares of Canadian Natural Resources during the third quarter valued at approximately $33,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth approximately $35,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Canadian Natural Resources in the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $29.98 on Friday. The stock has a market cap of $63.01 billion, a price-to-earnings ratio of 11.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 12 month low of $28.65 and a 12 month high of $41.29. The stock’s 50 day moving average price is $30.87 and its 200 day moving average price is $33.22.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 target price on shares of Canadian Natural Resources in a research note on Tuesday. 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.00.

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).