PCJ Investment Counsel Ltd. Has $3.66 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

PCJ Investment Counsel Ltd. decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,730 shares of the oil and gas producer’s stock after selling 2,870 shares during the period. Canadian Natural Resources comprises 1.2% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 20th largest holding. PCJ Investment Counsel Ltd.’s holdings in Canadian Natural Resources were worth $3,661,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Canadian Natural Resources by 1.4% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 890,610 shares of the oil and gas producer’s stock valued at $27,461,000 after purchasing an additional 12,265 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Canadian Natural Resources by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 89,546 shares of the oil and gas producer’s stock valued at $2,764,000 after buying an additional 7,236 shares in the last quarter. Haven Private LLC bought a new position in Canadian Natural Resources in the fourth quarter valued at about $304,000. Pacific Heights Asset Management LLC raised its stake in Canadian Natural Resources by 40.6% during the fourth quarter. Pacific Heights Asset Management LLC now owns 450,000 shares of the oil and gas producer’s stock worth $13,892,000 after acquiring an additional 130,000 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Canadian Natural Resources in the fourth quarter worth about $1,428,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Trading Up 1.3 %

Shares of CNQ stock opened at $28.33 on Friday. The stock has a 50-day moving average of $30.46 and a 200-day moving average of $32.71. 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 stock has a market cap of $59.56 billion, a price-to-earnings ratio of 11.00 and a beta of 1.48. Canadian Natural Resources Limited has a 1-year low of $25.62 and a 1-year high of $41.29.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 5.81%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 61.87%.

Analysts Set New Price Targets

CNQ has been the topic of a number of research analyst reports. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada increased their target price on Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus 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).