Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 672,956 shares of the oil and gas producer’s stock after buying an additional 14,658 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Canadian Natural Resources Limited worth $19,391,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Cambiar Investors LLC bought a new stake in Canadian Natural Resources Limited during the first quarter worth about $169,519,000. Ameriprise Financial Inc. increased its stake in Canadian Natural Resources Limited by 93.2% in the first quarter. Ameriprise Financial Inc. now owns 7,736,994 shares of the oil and gas producer’s stock worth $253,695,000 after buying an additional 3,732,712 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Canadian Natural Resources Limited during the first quarter worth about $116,792,000. CIBC Asset Management Inc increased its stake in Canadian Natural Resources Limited by 11.9% in the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock worth $482,767,000 after buying an additional 1,780,934 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Canadian Natural Resources Limited by 67.1% in the first quarter. Bank of America Corp DE now owns 4,185,146 shares of the oil and gas producer’s stock worth $137,231,000 after buying an additional 1,681,125 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Shares of Canadian Natural Resources Limited (NYSE CNQ) opened at 30.96 on Monday. The firm’s 50-day moving average is $30.52 and its 200 day moving average is $30.67. Canadian Natural Resources Limited has a 1-year low of $27.52 and a 1-year high of $35.28. The stock has a market capitalization of $37.62 billion, a P/E ratio of 28.25 and a beta of 1.48.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a dividend of $0.2212 per share. The ex-dividend date is Thursday, September 14th. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.86%. Canadian Natural Resources Limited’s payout ratio is presently 78.43%.

Canadian Natural Resources Limited declared that its board has authorized a share repurchase program on Wednesday, May 17th that allows the company to buyback 27,930,000 outstanding shares. This buyback authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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CNQ has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price for the company in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a report on Friday, May 5th. Citigroup Inc. downgraded shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. ValuEngine upgraded shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Canadian Natural Resources Limited has a consensus rating of “Buy” and an average target price of $46.18.

About Canadian Natural Resources Limited

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Institutional Ownership by Quarter for Canadian Natural Resources Limited (NYSE:CNQ)

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