Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 30.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,708,163 shares of the oil and gas producer’s stock after purchasing an additional 2,939,866 shares during the quarter. Geode Capital Management LLC owned about 0.60% of Canadian Natural Resources worth $400,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Principal Securities Inc. increased its position in Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock valued at $216,000 after acquiring an additional 5,982 shares during the period. SG Americas Securities LLC grew its stake in shares of Canadian Natural Resources by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after purchasing an additional 17,694 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Canadian Natural Resources by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after purchasing an additional 1,270,945 shares during the period. Bank of New York Mellon Corp raised its stake 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 valued at $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. Finally, Baskin Financial Services Inc. lifted its holdings in Canadian Natural Resources by 1.1% in the fourth quarter. Baskin Financial Services Inc. now owns 996,151 shares of the oil and gas producer’s stock worth $30,736,000 after purchasing an additional 10,871 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 7.5 %

Canadian Natural Resources stock opened at $27.61 on Friday. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The firm’s 50 day moving average price is $29.86 and its two-hundred day moving average price is $32.07. The firm has a market cap of $58.00 billion, a price-to-earnings ratio of 10.72 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.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a dividend of $0.4117 per share. The ex-dividend date of this dividend was Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.96%. Canadian Natural Resources’s payout ratio is 77.88%.

Analysts Set New Price Targets

CNQ has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Company 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).