Mitsubishi UFJ Trust & Banking Corp Purchases New Position in Canadian Natural Resources Limited (NYSE:CNQ)

Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,800 shares of the oil and gas producer’s stock, valued at approximately $643,000.

A number of other hedge funds have also recently made changes to their positions in the company. Old West Investment Management LLC grew its position in Canadian Natural Resources by 73.9% during the third quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock worth $11,822,000 after buying an additional 151,237 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Canadian Natural Resources by 49.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer’s stock valued at $309,000 after acquiring an additional 3,076 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Canadian Natural Resources by 237.5% during the third quarter. BNP Paribas Financial Markets now owns 144,139 shares of the oil and gas producer’s stock worth $4,787,000 after purchasing an additional 101,430 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Canadian Natural Resources during the third quarter worth about $347,000. Finally, Verition Fund Management LLC increased its position in shares of Canadian Natural Resources by 62.1% in the third quarter. Verition Fund Management LLC now owns 25,088 shares of the oil and gas producer’s stock worth $833,000 after purchasing an additional 9,610 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $31.32 on Wednesday. The firm has a fifty day simple moving average of $29.97 and a two-hundred day simple moving average of $32.12. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29. The company has a market capitalization of $65.79 billion, a PE ratio of 12.16 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is 77.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.00.

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).