Alliancebernstein L.P. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,094,068 shares of the oil and gas producer’s stock after purchasing an additional 266,100 shares during the quarter. Alliancebernstein L.P. owned approximately 0.46% of Canadian Natural Resources Limited worth $146,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. South Dakota Investment Council increased its holdings in Canadian Natural Resources Limited by 103.2% during the 2nd quarter. South Dakota Investment Council now owns 203,940 shares of the oil and gas producer’s stock worth $5,882,000 after purchasing an additional 103,600 shares during the period. Wells Fargo & Company MN increased its holdings in Canadian Natural Resources Limited by 3.3% during the 2nd quarter. Wells Fargo & Company MN now owns 507,344 shares of the oil and gas producer’s stock worth $14,632,000 after purchasing an additional 16,267 shares during the period. Franklin Resources Inc. increased its holdings in Canadian Natural Resources Limited by 0.9% during the 2nd quarter. Franklin Resources Inc. now owns 3,966,680 shares of the oil and gas producer’s stock worth $114,503,000 after purchasing an additional 35,616 shares during the period. Commonwealth Bank of Australia increased its holdings in Canadian Natural Resources Limited by 10.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,202,386 shares of the oil and gas producer’s stock worth $34,643,000 after purchasing an additional 114,003 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Canadian Natural Resources Limited by 24.0% during the 2nd quarter. Private Advisor Group LLC now owns 7,672 shares of the oil and gas producer’s stock worth $220,000 after purchasing an additional 1,485 shares during the period. Institutional investors own 58.56% of the company’s stock.

Several equities research analysts have weighed in on CNQ shares. Morgan Stanley upgraded Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a report on Wednesday, July 19th. Citigroup Inc. downgraded Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine upgraded Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, BidaskClub upgraded Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.18.

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Canadian Natural Resources Limited (NYSE:CNQ) opened at 32.27 on Friday. The firm has a market capitalization of $39.21 billion, a PE ratio of 29.39 and a beta of 1.45. The stock’s 50 day moving average price is $31.11 and its 200 day moving average price is $30.78. Canadian Natural Resources Limited has a 52-week low of $27.52 and a 52-week high of $35.28.

Canadian Natural Resources Limited announced that its Board of Directors has initiated a share buyback 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 purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm 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 dividend of $0.2212 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 14th. Canadian Natural Resources Limited’s payout ratio is presently 78.43%.

Canadian Natural Resources Limited Company Profile

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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