GAM Holding AG held its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the oil and gas producer’s stock at the end of the second quarter. GAM Holding AG’s holdings in Canadian Natural Resources Limited were worth $1,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambiar Investors LLC purchased a new position in shares of Canadian Natural Resources Limited during the first quarter valued at $169,519,000. Ameriprise Financial Inc. raised its position in shares of 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 valued at $253,695,000 after buying an additional 3,732,712 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Canadian Natural Resources Limited during the first quarter valued at $116,792,000. CIBC Asset Management Inc raised its position in shares of 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 valued at $482,767,000 after buying an additional 1,780,934 shares during the period. Finally, Bank of America Corp DE raised its position in shares of 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 valued at $137,231,000 after buying an additional 1,681,125 shares during the period. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Canadian Natural Resources Limited (NYSE:CNQ) opened at 30.39 on Thursday. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28. The firm has a market capitalization of $36.93 billion, a P/E ratio of 27.68 and a beta of 1.48. The stock’s 50 day moving average price is $30.52 and its 200 day moving average price is $30.67.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a $0.2212 dividend. The ex-dividend date is Thursday, September 14th. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 2.91%. Canadian Natural Resources Limited’s payout ratio is presently 78.43%.

Canadian Natural Resources Limited declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 17th that permits the company to repurchase 27,930,000 shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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

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

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