Capital World Investors Has $1.04 Billion Stake in Canadian Natural Resources Limited (CNQ)
Capital World Investors grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 36,065,983 shares of the oil and gas producer’s stock after acquiring an additional 2,042,846 shares during the period. Capital World Investors owned about 2.97% of Canadian Natural Resources Limited worth $1,040,707,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new stake in Canadian Natural Resources Limited in the second quarter worth approximately $126,000. Greenleaf Trust bought a new stake in shares of Canadian Natural Resources Limited during the second quarter valued at approximately $204,000. Private Advisor Group LLC acquired a new position in shares of Canadian Natural Resources Limited during the first quarter worth approximately $205,000. Oxford Asset Management acquired a new position in shares of Canadian Natural Resources Limited during the first quarter worth approximately $212,000. Finally, RMB Capital Management LLC acquired a new position in shares of Canadian Natural Resources Limited during the first quarter worth approximately $215,000. 58.56% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on CNQ. BidaskClub upgraded shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Zacks Investment Research upgraded Canadian Natural Resources Limited from a “strong sell” rating to a “hold” rating in a report on Thursday, August 17th. Citigroup Inc. cut Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $33.00 in a research note on Friday, July 21st. They noted that the move was a valuation call. Morgan Stanley raised shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price objective on the stock in a research report on Wednesday, July 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $47.00 price target on shares of Canadian Natural Resources Limited in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.18.
Shares of Canadian Natural Resources Limited (CNQ) traded down 0.30% during midday trading on Tuesday, reaching $33.54. 337,611 shares of the company’s stock were exchanged. The firm has a market cap of $40.76 billion, a PE ratio of 29.29 and a beta of 1.47. Canadian Natural Resources Limited has a one year low of $27.52 and a one year high of $35.28. The stock’s 50-day moving average is $32.17 and its 200 day moving average is $31.12.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were issued a dividend of $0.2212 per share. The ex-dividend date was Thursday, September 14th. This is an increase from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. Canadian Natural Resources Limited’s dividend payout ratio is 86.28%.
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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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