State of Tennessee Department of Treasury Has $56.20 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

State of Tennessee Department of Treasury lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,821,174 shares of the oil and gas producer’s stock after acquiring an additional 18,056 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Canadian Natural Resources were worth $56,198,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock worth $2,857,337,000 after buying an additional 7,372,718 shares during the period. Assenagon Asset Management S.A. lifted its stake in Canadian Natural Resources by 6,902.0% in 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 acquiring an additional 3,600,686 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Natural Resources by 31.6% during the 4th 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 acquiring an additional 3,224,548 shares during the period. Geode Capital Management LLC grew its stake in Canadian Natural Resources by 30.1% during the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock valued at $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Canadian Natural Resources by 87.0% in 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 purchasing an additional 2,064,492 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $28.82 on Monday. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $39.20. The stock’s 50-day moving average is $29.02 and its two-hundred day moving average is $31.51. The firm has a market cap of $60.45 billion, a P/E ratio of 11.19 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were issued a $0.4117 dividend. 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 5.72%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources’s payout ratio is 77.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CNQ shares. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average 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).