Orion Portfolio Solutions LLC Has $2.53 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Orion Portfolio Solutions LLC grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,954 shares of the oil and gas producer’s stock after buying an additional 497 shares during the period. Orion Portfolio Solutions LLC’s holdings in Canadian Natural Resources were worth $2,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Pictet Asset Management Holding SA lifted its holdings in Canadian Natural Resources by 0.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 688,803 shares of the oil and gas producer’s stock valued at $21,255,000 after purchasing an additional 5,976 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Canadian Natural Resources by 4.5% during the 4th quarter. JPMorgan Chase & Co. now owns 13,893,962 shares of the oil and gas producer’s stock worth $428,907,000 after buying an additional 603,314 shares during the last quarter. Mufg Securities Canada LTD. lifted its stake in shares of Canadian Natural Resources by 70.6% during the 4th quarter. Mufg Securities Canada LTD. now owns 3,222,661 shares of the oil and gas producer’s stock worth $99,431,000 after buying an additional 1,334,101 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Canadian Natural Resources during the 4th quarter worth about $643,000. Finally, GQG Partners LLC acquired a new position in Canadian Natural Resources in the 4th quarter valued at about $5,689,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Up 1.7 %

Shares of NYSE CNQ opened at $31.32 on Wednesday. The stock has a market capitalization of $65.79 billion, a P/E ratio of 12.16 and a beta of 1.48. The stock’s fifty day moving average is $29.97 and its 200 day moving average is $32.12. Canadian Natural Resources Limited has a 52 week low of $25.62 and a 52 week high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be 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 5.26%. The ex-dividend date is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 77.88%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CNQ shares. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and an average price target 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).