Raymond James Financial Inc. Purchases New Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Raymond James Financial Inc. purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,245,268 shares of the oil and gas producer’s stock, valued at approximately $38,441,000. Raymond James Financial Inc. owned about 0.06% of Canadian Natural Resources at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC grew its holdings in Canadian Natural Resources by 4.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock valued at $300,000 after purchasing an additional 419 shares during the last quarter. Fifth Third Bancorp grew its holdings in Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 429 shares during the last quarter. Assetmark Inc. grew its stake in Canadian Natural Resources by 57.3% in the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 439 shares in the last quarter. Pitcairn Co. grew its stake in Canadian Natural Resources by 1.3% in the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 475 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CNQ. Royal Bank of Canada upped their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note 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. 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $29.24 on Thursday. The company has a 50 day moving average price of $30.34 and a 200-day moving average price of $32.54. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The stock has a market capitalization of $61.41 billion, a PE ratio of 11.35 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.4117 dividend. This represents a $1.65 annualized dividend and a dividend yield of 5.63%. The ex-dividend date is Friday, March 21st. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. 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).