Scheer Rowlett & Associates Investment Management Ltd. Buys 12,265 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Scheer Rowlett & Associates Investment Management Ltd. increased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 890,610 shares of the oil and gas producer’s stock after acquiring an additional 12,265 shares during the quarter. Canadian Natural Resources comprises approximately 2.0% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 21st biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $27,461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Holocene Advisors LP purchased a new stake in shares of Canadian Natural Resources in the third quarter worth $13,700,000. Principal Securities Inc. increased its stake in Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 5,982 shares in the last quarter. SG Americas Securities LLC raised its holdings in Canadian Natural Resources by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after acquiring an additional 17,694 shares during the period. CIBC Asset Management Inc raised its position in shares of Canadian Natural Resources by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 1.3 %

CNQ stock opened at $28.33 on Friday. The firm has a 50-day moving average of $30.46 and a two-hundred day moving average of $32.71. The company has a market cap of $59.56 billion, a price-to-earnings ratio of 11.00 and a beta of 1.48. 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.

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 paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.81%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is 61.87%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” 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).