Invesco Ltd. Decreases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Invesco Ltd. cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,666,027 shares of the oil and gas producer’s stock after selling 418,039 shares during the quarter. Invesco Ltd. owned approximately 0.27% of Canadian Natural Resources worth $174,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MML Investors Services LLC boosted its holdings in Canadian Natural Resources by 5.0% in the 3rd quarter. MML Investors Services LLC now owns 54,517 shares of the oil and gas producer’s stock worth $1,811,000 after buying an additional 2,609 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Canadian Natural Resources in the third quarter valued at $545,000. Public Employees Retirement System of Ohio purchased a new position in shares of Canadian Natural Resources in the third quarter valued at $5,988,000. Barclays PLC lifted its holdings in Canadian Natural Resources by 23.4% during the 3rd quarter. Barclays PLC now owns 716,670 shares of the oil and gas producer’s stock worth $23,800,000 after purchasing an additional 136,107 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Canadian Natural Resources by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer’s stock worth $328,807,000 after purchasing an additional 727,798 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 3.9 %

NYSE CNQ opened at $27.18 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $29.29 and its two-hundred day simple moving average is $31.73. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $41.01. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 10.56 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a $0.4117 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 6.06%. Canadian Natural Resources’s payout ratio is presently 77.88%.

Analyst Ratings Changes

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

About Canadian Natural Resources

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).