Sequoia Financial Advisors LLC Raises Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Sequoia Financial Advisors LLC increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 34.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,168 shares of the oil and gas producer’s stock after buying an additional 16,029 shares during the period. Sequoia Financial Advisors LLC’s holdings in Canadian Natural Resources were worth $1,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources during the 4th quarter worth $25,000. Continuum Advisory LLC increased its stake in Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the period. Coastline Trust Co purchased a new stake in Canadian Natural Resources during the 3rd quarter worth $33,000. R Squared Ltd purchased a new stake in Canadian Natural Resources during the 4th quarter worth $32,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Canadian Natural Resources during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ opened at $29.40 on Friday. Canadian Natural Resources Limited has a 1-year low of $25.62 and a 1-year high of $41.29. The company has a 50-day moving average of $30.25 and a 200-day moving average of $32.46. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The company has a market capitalization of $61.76 billion, a P/E ratio of 11.42 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a $0.4117 dividend. The ex-dividend date is Friday, March 21st. 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 5.60%. Canadian Natural Resources’s payout ratio is 77.88%.

Analysts Set New Price Targets

Several research firms recently issued reports on CNQ. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Finally, Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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).