Intech Investment Management LLC Has $9.57 Million Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Intech Investment Management LLC grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 309,987 shares of the oil and gas producer’s stock after acquiring an additional 30,178 shares during the period. Intech Investment Management LLC’s holdings in Canadian Natural Resources were worth $9,566,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter valued at about $25,000. Continuum Advisory LLC grew its holdings in shares of Canadian Natural Resources by 144.1% during the third 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 during the last quarter. Coastline Trust Co acquired a new position in shares of Canadian Natural Resources during the third quarter valued at about $33,000. R Squared Ltd acquired a new position in shares of Canadian Natural Resources during the fourth quarter valued at about $32,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Canadian Natural Resources during the third quarter valued at about $37,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNQ. Royal Bank of Canada lifted their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Finally, Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $29.82 on Tuesday. 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 Limited has a 12 month low of $25.62 and a 12 month high of $41.29. The stock has a market cap of $62.63 billion, a P/E ratio of 11.58 and a beta of 1.48. The company has a 50 day moving average of $30.20 and a 200 day moving average of $32.35.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a dividend of $0.4117 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is currently 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).