HighTower Advisors LLC Decreases Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

HighTower Advisors LLC cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,246 shares of the oil and gas producer’s stock after selling 11,816 shares during the period. HighTower Advisors LLC’s holdings in Canadian Natural Resources were worth $5,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources in the 4th quarter valued at $25,000. Continuum Advisory LLC raised its position in shares of Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares during the last quarter. R Squared Ltd purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new position in Canadian Natural Resources during the fourth quarter worth about $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Canadian Natural Resources during the 3rd quarter valued at about $37,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CNQ. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday. Royal Bank of Canada upped their target price on Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Finally, Tudor Pickering lowered 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Trading Up 2.2 %

CNQ opened at $30.66 on Thursday. The business’s 50 day moving average price is $30.10 and its 200 day moving average price is $32.29. 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 stock has a market capitalization of $64.40 billion, a PE ratio of 11.91 and a beta of 1.48. Canadian Natural Resources Limited has a one year low of $25.62 and a one year high of $41.29.

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 issued a dividend of $0.4117 per share. The ex-dividend date is Friday, March 21st. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.37%. Canadian Natural Resources’s dividend payout ratio is currently 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).