PDS Planning Inc Sells 567 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

PDS Planning Inc lessened its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,581 shares of the oil and gas producer’s stock after selling 567 shares during the period. PDS Planning Inc’s holdings in Canadian Natural Resources were worth $265,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CNQ. RD Lewis Holdings Inc. acquired a new stake in Canadian Natural Resources during the 4th quarter worth $1,338,000. Cadence Wealth Management LLC increased its holdings in shares of Canadian Natural Resources by 4.4% in the fourth quarter. Cadence Wealth Management LLC now owns 15,439 shares of the oil and gas producer’s stock worth $477,000 after acquiring an additional 644 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Canadian Natural Resources by 8.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 56,424 shares of the oil and gas producer’s stock worth $1,742,000 after purchasing an additional 4,265 shares during the period. Gold Investment Management Ltd. grew its position in shares of Canadian Natural Resources by 3.0% in the 4th quarter. Gold Investment Management Ltd. now owns 90,687 shares of the oil and gas producer’s stock valued at $2,799,000 after purchasing an additional 2,618 shares during the period. Finally, Natixis Advisors LLC increased its stake in Canadian Natural Resources by 6.8% during the 4th quarter. Natixis Advisors LLC now owns 545,258 shares of the oil and gas producer’s stock worth $16,832,000 after purchasing an additional 34,928 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CNQ shares. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Royal Bank of Canada lifted their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the company 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 report 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $30.66 on Thursday. 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 business has a 50-day moving average of $30.10 and a 200-day moving average of $32.29. The stock has a market capitalization of $64.40 billion, a price-to-earnings ratio of 11.91 and a beta of 1.48. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 5.37%. Canadian Natural Resources’s 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).