Sandy Spring Bank Makes New $31,000 Investment in Canadian Natural Resources Limited (NYSE:CNQ)

Sandy Spring Bank purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the oil and gas producer’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kingsview Wealth Management LLC boosted its position in shares of Canadian Natural Resources by 4.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock valued at $300,000 after acquiring an additional 419 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 429 shares during the last quarter. Assetmark Inc. boosted its position in shares of Canadian Natural Resources by 57.3% during the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 439 shares during the last quarter. Pitcairn Co. boosted its position in shares of Canadian Natural Resources by 1.3% during the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock valued at $1,209,000 after acquiring an additional 475 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Canadian Natural Resources by 144.1% during the 3rd 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 last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $30.33 on Friday. 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 stock’s fifty day moving average is $30.02 and its 200 day moving average is $32.22. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The firm has a market capitalization of $63.70 billion, a PE ratio of 11.78 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a $0.4117 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.43%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 77.88%.

Analyst Ratings Changes

A number of research firms have recently commented on CNQ. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Royal Bank of Canada increased their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Finally, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

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).