Massachusetts Financial Services Co. MA Cuts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Massachusetts Financial Services Co. MA reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,372,509 shares of the oil and gas producer’s stock after selling 210,774 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.21% of Canadian Natural Resources worth $134,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Old West Investment Management LLC boosted its holdings in shares of Canadian Natural Resources by 73.9% in the 3rd quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock worth $11,822,000 after purchasing an additional 151,237 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Canadian Natural Resources by 49.3% in the third quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer’s stock worth $309,000 after buying an additional 3,076 shares in the last quarter. Townsquare Capital LLC bought a new position in Canadian Natural Resources during the third quarter valued at approximately $347,000. Verition Fund Management LLC raised its stake in shares of Canadian Natural Resources by 62.1% during 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. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Canadian Natural Resources by 815.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 55,138 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 49,117 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Down 7.5 %

Shares of NYSE:CNQ opened at $27.61 on Friday. The stock’s 50-day moving average is $29.86 and its 200 day moving average is $32.07. The company has a market cap of $58.00 billion, a PE ratio of 10.72 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. 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 firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were issued a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

Analyst Ratings Changes

A number of equities analysts recently commented on CNQ shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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).