Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.9% during the 4th quarter, Holdings Channel reports. The fund owned 772,375 shares of the oil and gas producer’s stock after purchasing an additional 43,130 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Canadian Natural Resources were worth $23,834,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

CNQ has been the subject of several research reports. Royal Bank of Canada upped 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. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday. Finally, Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Stock Up 1.1 %

Shares of NYSE CNQ opened at $28.71 on Wednesday. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a market capitalization of $60.30 billion, a P/E ratio of 11.15 and a beta of 1.48. The company has a 50 day simple moving average of $30.38 and a 200-day simple moving average of $32.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources Increases Dividend

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

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).