Tocqueville Asset Management L.P. Acquires 4,265 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Tocqueville Asset Management L.P. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,424 shares of the oil and gas producer’s stock after buying an additional 4,265 shares during the period. Tocqueville Asset Management L.P.’s holdings in Canadian Natural Resources were worth $1,742,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $25,000. Continuum Advisory LLC increased its position in 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 valued at $28,000 after buying an additional 490 shares in the last quarter. R Squared Ltd purchased a new position in shares of Canadian Natural Resources in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Canadian Natural Resources during the 3rd quarter worth about $37,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 2.2 %

Shares of NYSE:CNQ opened at $30.66 on Thursday. The business has a 50-day moving average price of $30.10 and a 200 day moving average price of $32.29. The company 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 12-month low of $25.62 and a 12-month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

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 given a $0.4117 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.37%. Canadian Natural Resources’s payout ratio is presently 77.88%.

Analysts Set New Price Targets

CNQ has been the subject of several research reports. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday. Finally, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research 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 MarketBeat, Canadian Natural Resources presently has an average rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources Company 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).