Connor Clark & Lunn Investment Management Ltd. Has $414.22 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 31.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,433,797 shares of the oil and gas producer’s stock after buying an additional 3,224,548 shares during the period. Canadian Natural Resources makes up approximately 1.9% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 8th biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $414,223,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Canadian Natural Resources by 6,902.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock worth $112,763,000 after acquiring an additional 3,600,686 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Canadian Natural Resources by 73.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock worth $260,116,000 after purchasing an additional 3,312,442 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Canadian Natural Resources by 63.5% in the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock valued at $273,417,000 after purchasing an additional 3,198,007 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after purchasing an additional 2,064,492 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Canadian Natural Resources by 3.9% during the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after buying an additional 1,651,452 shares during the period. Institutional investors own 74.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday. Tudor Pickering cut 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. Finally, Royal Bank of Canada raised their target price 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, March 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Stock Up 1.1 %

NYSE:CNQ opened at $28.71 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $30.38 and its two-hundred day moving average price is $32.56. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29. The firm has a market capitalization of $60.30 billion, a price-to-earnings ratio of 11.15 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.74%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is 77.88%.

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).