Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 47.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,885,899 shares of the oil and gas producer’s stock after selling 1,717,207 shares during the period. Canadian Natural Resources makes up approximately 8.5% of Ninepoint Partners LP’s investment portfolio, making the stock its 3rd largest holding. Ninepoint Partners LP owned about 0.09% of Canadian Natural Resources worth $58,218,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Fisher Asset Management LLC grew its stake in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock worth $1,362,332,000 after purchasing an additional 550,242 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Canadian Natural Resources by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock worth $945,965,000 after purchasing an additional 1,383,478 shares during the period. CIBC Asset Management Inc grew its stake in shares of Canadian Natural Resources by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after purchasing an additional 1,270,945 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock worth $414,223,000 after purchasing an additional 3,224,548 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Canadian Natural Resources by 8.1% during the third quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer’s stock worth $328,807,000 after purchasing an additional 727,798 shares during the period. 74.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CNQ. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Royal Bank of Canada boosted their target price 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. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $29.40 on Friday. The firm has a market cap of $61.76 billion, a price-to-earnings ratio of 11.42 and a beta of 1.48. The stock’s 50-day moving average is $30.25 and its 200-day moving average is $32.43. 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.

Canadian Natural Resources Increases Dividend

The company also recently declared 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. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.60%. 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. Canadian Natural Resources’s payout ratio 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).