Hillsdale Investment Management Inc. Raises Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Hillsdale Investment Management Inc. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 152.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 395,809 shares of the oil and gas producer’s stock after acquiring an additional 239,256 shares during the quarter. Canadian Natural Resources comprises approximately 0.6% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 27th biggest position. Hillsdale Investment Management Inc.’s holdings in Canadian Natural Resources were worth $12,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNQ. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources in the 4th quarter worth $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Continuum Advisory LLC grew its holdings in shares of Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares in the last quarter. Sandy Spring Bank purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth $31,000. Finally, R Squared Ltd purchased a new stake in shares of Canadian Natural Resources during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Down 1.6 %

Shares of CNQ opened at $30.33 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. Canadian Natural Resources Limited has a 12-month low of $25.62 and a 12-month high of $41.29. The firm has a 50-day moving average price of $30.02 and a 200 day moving average price of $32.24. The firm has a market capitalization of $63.70 billion, a P/E ratio of 11.78 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business 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 of this dividend is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.43%. 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%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CNQ shares. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday. 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 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.00.

About Canadian Natural Resources

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).