Wells Fargo & Company MN Increases Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Wells Fargo & Company MN grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 706,198 shares of the oil and gas producer’s stock after purchasing an additional 66,075 shares during the quarter. Wells Fargo & Company MN’s holdings in Canadian Natural Resources were worth $21,792,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Principal Securities Inc. boosted its position in Canadian Natural Resources by 595.2% during the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock worth $216,000 after acquiring an additional 5,982 shares during the last quarter. SG Americas Securities LLC lifted its stake in Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after purchasing an additional 17,694 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Canadian Natural Resources by 5.6% during the 4th 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 last quarter. Bank of New York Mellon Corp grew its position in shares of Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. Finally, Baskin Financial Services Inc. increased its holdings in shares of Canadian Natural Resources by 1.1% in the fourth quarter. Baskin Financial Services Inc. now owns 996,151 shares of the oil and gas producer’s stock valued at $30,736,000 after purchasing an additional 10,871 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 3.9 %

Shares of CNQ opened at $27.18 on Friday. The company’s 50-day moving average price is $29.29 and its 200 day moving average price is $31.73. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $41.01. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $57.02 billion, a P/E ratio of 10.56 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders 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 dividend yield of 6.06%. The ex-dividend date was Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

Analyst Ratings Changes

CNQ has been the subject of several analyst reports. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus 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).