Amundi Increases Position in Canadian Natural Resources Limited (NYSE:CNQ)

Amundi grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,087,352 shares of the oil and gas producer’s stock after buying an additional 116,731 shares during the quarter. Amundi owned 0.34% of Canadian Natural Resources worth $231,260,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after acquiring an additional 550,242 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Canadian Natural Resources by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock valued at $945,965,000 after buying an additional 1,383,478 shares in the last quarter. CIBC Asset Management Inc lifted 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 worth $746,025,000 after purchasing an additional 1,270,945 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Canadian Natural Resources by 8.1% during the third quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer’s stock valued at $328,807,000 after acquiring an additional 727,798 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Canadian Natural Resources by 63.5% during the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after purchasing an additional 3,198,007 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.3 %

Canadian Natural Resources stock opened at $28.33 on Monday. Canadian Natural Resources Limited has a 52 week low of $25.62 and a 52 week high of $41.29. 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 firm has a market capitalization of $59.56 billion, a PE ratio of 11.00 and a beta of 1.48. The business’s 50-day simple moving average is $30.46 and its 200-day simple moving average is $32.67.

Canadian Natural Resources Increases Dividend

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

Wall Street Analysts Forecast Growth

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