Robotti Robert Raises Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Robotti Robert grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 337,522 shares of the oil and gas producer’s stock after acquiring an additional 505 shares during the quarter. Canadian Natural Resources comprises about 1.8% of Robotti Robert’s holdings, making the stock its 16th largest position. Robotti Robert’s holdings in Canadian Natural Resources were worth $10,405,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Assenagon Asset Management S.A. grew its position in Canadian Natural Resources by 6,902.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Canadian Natural Resources by 73.3% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock worth $260,116,000 after buying an additional 3,312,442 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock worth $414,223,000 after buying an additional 3,224,548 shares during the last quarter. National Bank of Canada FI increased its position in 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 period. Finally, Bank of New York Mellon Corp raised its stake in Canadian Natural Resources by 87.0% during the 4th 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 acquiring an additional 2,064,492 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $31.30 on Thursday. 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 Limited has a one year low of $25.62 and a one year high of $41.29. The firm has a market capitalization of $65.74 billion, a P/E ratio of 12.15 and a beta of 1.48. The company’s fifty day moving average is $29.99 and its two-hundred day moving average is $32.17.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CNQ. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Finally, Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price 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).