Groupama Asset Managment Lowers Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Groupama Asset Managment cut its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 51.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,105 shares of the oil and gas producer’s stock after selling 56,859 shares during the quarter. Groupama Asset Managment’s holdings in Canadian Natural Resources were worth $1,645,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Old West Investment Management LLC increased its stake in shares of Canadian Natural Resources by 73.9% during the third quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock valued at $11,822,000 after purchasing an additional 151,237 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Canadian Natural Resources by 49.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 3,076 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Canadian Natural Resources by 237.5% during the third quarter. BNP Paribas Financial Markets now owns 144,139 shares of the oil and gas producer’s stock valued at $4,787,000 after buying an additional 101,430 shares during the last quarter. Townsquare Capital LLC purchased a new position in Canadian Natural Resources during the third quarter valued at $347,000. Finally, Verition Fund Management LLC boosted its holdings in Canadian Natural Resources by 62.1% in the third quarter. Verition Fund Management LLC now owns 25,088 shares of the oil and gas producer’s stock worth $833,000 after acquiring an additional 9,610 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Trading Up 0.4 %

Shares of CNQ stock opened at $31.43 on Thursday. 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 capitalization of $66.02 billion, a P/E ratio of 12.21 and a beta of 1.48. The firm’s 50 day moving average is $29.96 and its 200 day moving average is $32.11.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.4117 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 5.24%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is presently 77.88%.

Wall Street Analysts Forecast Growth

CNQ has been the subject of several recent analyst reports. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Finally, Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources 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).