Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,664,644 shares of the oil and gas producer’s stock after selling 130,653 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Canadian Natural Resources worth $51,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of Canadian Natural Resources by 6,902.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after purchasing an additional 3,600,686 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after buying an additional 3,224,548 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Canadian Natural Resources by 30.1% in the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after buying an additional 2,939,866 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Canadian Natural Resources by 87.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after buying an additional 2,064,492 shares in the last quarter. Finally, Mufg Securities Canada LTD. raised its holdings in shares of Canadian Natural Resources by 70.6% during the fourth quarter. Mufg Securities Canada LTD. now owns 3,222,661 shares of the oil and gas producer’s stock valued at $99,431,000 after acquiring an additional 1,334,101 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Trading Down 7.5 %

Shares of Canadian Natural Resources stock opened at $27.61 on Monday. The stock has a 50 day moving average of $29.86 and a 200 day moving average of $32.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a market capitalization of $58.00 billion, a price-to-earnings ratio of 10.72 and a beta of 1.10. 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 disclosed 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 5.96%. The ex-dividend date of this dividend was Friday, March 21st. 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).