Cadence Wealth Management LLC Increases Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Cadence Wealth Management LLC lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,439 shares of the oil and gas producer’s stock after buying an additional 644 shares during the quarter. Cadence Wealth Management LLC’s holdings in Canadian Natural Resources were worth $477,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Royal Bank of Canada upped their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Stock Up 1.4 %

Shares of NYSE CNQ opened at $29.82 on Tuesday. The stock has a market capitalization of $62.63 billion, a P/E ratio of 11.58 and a beta of 1.48. Canadian Natural Resources Limited has a one year low of $25.62 and a one year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $30.20 and its two-hundred day simple moving average is $32.35.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is 77.88%.

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).