Canadian Natural Resources Limited (NYSE:CNQ) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,433,797 shares of the oil and gas producer’s stock after purchasing an additional 3,224,548 shares during the period. Canadian Natural Resources makes up about 1.9% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 8th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.64% of Canadian Natural Resources worth $414,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CNQ. Duncker Streett & Co. Inc. acquired a new position in Canadian Natural Resources during the 4th quarter worth $25,000. Continuum Advisory LLC lifted its stake in shares of Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 490 shares during the period. R Squared Ltd bought a new position in Canadian Natural Resources in the fourth quarter valued at about $32,000. Coastline Trust Co acquired a new stake in Canadian Natural Resources in the third quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Canadian Natural Resources during the 4th quarter worth about $35,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Stock Up 1.1 %

Shares of NYSE:CNQ opened at $28.71 on Wednesday. The company has a 50 day moving average price of $30.38 and a two-hundred day moving average price of $32.56. 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 company has a market capitalization of $60.30 billion, a PE ratio of 11.15 and a beta of 1.48. Canadian Natural Resources Limited has a 52 week low of $25.62 and a 52 week high of $41.29.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a $0.4117 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.74%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNQ. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday. Royal Bank of Canada raised their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Tudor Pickering cut 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 two have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus target price 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).