Corient Private Wealth LLC Sells 244,529 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Corient Private Wealth LLC cut its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,629,343 shares of the oil and gas producer’s stock after selling 244,529 shares during the period. Corient Private Wealth LLC’s holdings in Canadian Natural Resources were worth $50,303,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Canadian Natural Resources by 6,902.0% during the fourth 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 purchasing an additional 3,600,686 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings 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 buying an additional 3,312,442 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after buying an additional 3,224,548 shares during the last quarter. National Bank of Canada FI boosted its position in Canadian Natural Resources by 63.5% during the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after buying an additional 3,198,007 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 2,064,492 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNQ has been the topic of a number of recent research reports. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada raised their price objective on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating and two 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 Price Performance

Shares of NYSE:CNQ opened at $29.82 on Tuesday. The stock’s fifty day simple moving average is $30.20 and its two-hundred day simple moving average is $32.35. The stock has a market cap of $62.63 billion, a PE ratio of 11.58 and a beta of 1.48. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 1-year low of $25.62 and a 1-year high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.65 annualized dividend and a yield of 5.52%. This is a positive change 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 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).