Capital Research Global Investors Sells 5,017,865 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Capital Research Global Investors lowered its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,769,104 shares of the oil and gas producer’s stock after selling 5,017,865 shares during the period. Capital Research Global Investors owned about 4.60% of Canadian Natural Resources worth $2,987,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CNQ. Dimensional Fund Advisors LP boosted its position in Canadian Natural Resources by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,987,284 shares of the oil and gas producer’s stock worth $215,688,000 after buying an additional 182,707 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Canadian Natural Resources in the fourth quarter worth approximately $4,794,000. Capital International Sarl boosted its holdings in Canadian Natural Resources by 10.2% in the fourth quarter. Capital International Sarl now owns 446,400 shares of the oil and gas producer’s stock valued at $13,775,000 after acquiring an additional 41,240 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Canadian Natural Resources by 0.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 321,969 shares of the oil and gas producer’s stock worth $9,910,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Canadian Natural Resources by 5.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock worth $1,139,753,000 after purchasing an additional 1,844,700 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CNQ shares. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $28.82 on Friday. The business has a 50-day simple moving average of $29.02 and a 200 day simple moving average of $31.55. The firm has a market capitalization of $60.45 billion, a price-to-earnings ratio of 11.19 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $39.20.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is 77.88%.

Canadian Natural Resources Company 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).