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

TD Asset Management Inc. lifted its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,504,611 shares of the oil and gas producer’s stock after acquiring an additional 89,612 shares during the quarter. Canadian Natural Resources comprises approximately 1.2% of TD Asset Management Inc.’s holdings, making the stock its 15th biggest holding. TD Asset Management Inc. owned approximately 2.02% of Canadian Natural Resources worth $1,311,608,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its stake in shares of Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 419 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Canadian Natural Resources by 51.0% in 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. raised its holdings in shares of 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 buying an additional 439 shares during the period. Pitcairn Co. boosted its holdings in Canadian Natural Resources by 1.3% in the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 475 shares during the period. Finally, Continuum Advisory LLC grew its position in 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 acquiring an additional 490 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

CNQ opened at $30.76 on Tuesday. The company has a market capitalization of $64.60 billion, a P/E ratio of 11.94 and a beta of 1.48. The company has a 50-day moving average of $30.00 and a 200-day moving average of $32.19. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.4117 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is currently 77.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Royal Bank of Canada boosted their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Finally, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and an average price target 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).