Canadian Natural Resources Limited (NYSE:CNQ) Position Increased by TD Asset Management Inc.

TD Asset Management Inc. lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,504,611 shares of the oil and gas producer’s stock after purchasing an additional 89,612 shares during the period. Canadian Natural Resources comprises approximately 1.2% of TD Asset Management Inc.’s portfolio, making the stock its 15th largest holding. TD Asset Management Inc.’s holdings in Canadian Natural Resources were worth $1,311,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Duncker Streett & Co. Inc. bought a new position in Canadian Natural Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $25,000. Continuum Advisory LLC raised 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 worth $28,000 after purchasing an additional 490 shares during the period. Sandy Spring Bank bought a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust bought a new position in Canadian Natural Resources during the 4th quarter worth $31,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CNQ. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources 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. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada increased their price objective on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $30.76 on Tuesday. The firm has a market capitalization of $64.60 billion, a PE ratio of 11.94 and a beta of 1.48. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $30.00 and a 200 day moving average price of $32.19. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29.

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 issued a $0.4117 dividend. The ex-dividend date is Friday, March 21st. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 5.35%. Canadian Natural Resources’s dividend payout ratio (DPR) is 77.88%.

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).