Canadian Natural Resources Limited (NYSE:CNQ) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 30.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,708,163 shares of the oil and gas producer’s stock after purchasing an additional 2,939,866 shares during the period. Geode Capital Management LLC’s holdings in Canadian Natural Resources were worth $400,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in shares of Canadian Natural Resources by 51.0% during the fourth quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 429 shares in the last quarter. Assetmark Inc. grew its stake in Canadian Natural Resources by 57.3% during the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 439 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of 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 valued at $28,000 after purchasing an additional 490 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Canadian Natural Resources by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock worth $2,530,000 after purchasing an additional 497 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Canadian Natural Resources by 4.5% during the fourth quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer’s stock worth $370,000 after purchasing an additional 514 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 7.5 %

CNQ stock opened at $27.61 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $58.00 billion, a PE ratio of 10.72 and a beta of 1.48. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a fifty day simple moving average of $29.86 and a 200 day simple moving average of $32.07.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were paid a dividend of $0.4117 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.96%. The ex-dividend date was Friday, March 21st. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is 77.88%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Tudor Pickering lowered 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 reiterated an “outperform” rating and set a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Finally, Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price 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).