Whittier Trust Co. of Nevada Inc. Raises Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Whittier Trust Co. of Nevada Inc. lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 59.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,208 shares of the oil and gas producer’s stock after buying an additional 6,015 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Canadian Natural Resources were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CNQ. Holocene Advisors LP purchased a new position in shares of Canadian Natural Resources during the 3rd quarter worth $13,700,000. Principal Securities Inc. lifted its position in Canadian Natural Resources by 595.2% during the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 5,982 shares during the period. SG Americas Securities LLC lifted its position in Canadian Natural Resources by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after buying an additional 17,694 shares during the period. CIBC Asset Management Inc boosted its stake in Canadian Natural Resources by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after buying an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after buying an additional 2,064,492 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CNQ shares. Royal Bank of Canada raised their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock 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 note on Wednesday. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Finally, Tudor Pickering downgraded 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $30.33 on Friday. The firm’s fifty day simple moving average is $30.02 and its 200 day simple moving average is $32.22. 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 twelve month low of $25.62 and a twelve month high of $41.29. The firm has a market capitalization of $63.70 billion, a price-to-earnings ratio of 11.78 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, March 21st. This is a boost 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).