Avantax Advisory Services Inc. Sells 14,961 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Avantax Advisory Services Inc. reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 23.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,513 shares of the oil and gas producer’s stock after selling 14,961 shares during the period. Avantax Advisory Services Inc.’s holdings in Canadian Natural Resources were worth $1,528,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. bought a new position in Canadian Natural Resources in the 4th quarter worth about $15,365,000. Sequoia Financial Advisors LLC grew its stake in Canadian Natural Resources by 34.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 62,168 shares of the oil and gas producer’s stock worth $1,919,000 after acquiring an additional 16,029 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $16,510,000. Independent Advisor Alliance bought a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $256,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Canadian Natural Resources by 5.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 772,375 shares of the oil and gas producer’s stock valued at $23,834,000 after purchasing an additional 43,130 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 increased their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Trading Up 0.4 %

NYSE:CNQ opened at $29.96 on Wednesday. Canadian Natural Resources Limited has a 52 week low of $25.62 and a 52 week high of $41.29. The firm has a 50 day moving average of $30.14 and a 200 day moving average of $32.30. 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 has a market capitalization of $62.92 billion, a price-to-earnings ratio of 11.63 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be given a dividend of $0.4117 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.50%. Canadian Natural Resources’s dividend payout ratio is presently 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).