Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,790,154 shares of the oil and gas producer’s stock after selling 136,051 shares during the quarter. Wellington Management Group LLP owned 0.51% of Canadian Natural Resources worth $333,082,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Old West Investment Management LLC raised its holdings in shares of Canadian Natural Resources by 73.9% in the 3rd quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock valued at $11,822,000 after buying an additional 151,237 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Canadian Natural Resources by 49.3% during the third quarter. Thrivent Financial for Lutherans now owns 9,313 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 3,076 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Canadian Natural Resources by 237.5% in the third quarter. BNP Paribas Financial Markets now owns 144,139 shares of the oil and gas producer’s stock valued at $4,787,000 after purchasing an additional 101,430 shares during the period. Townsquare Capital LLC acquired a new position in shares of Canadian Natural Resources in the third quarter valued at approximately $347,000. Finally, Verition Fund Management LLC grew its holdings in shares of Canadian Natural Resources by 62.1% in the third quarter. Verition Fund Management LLC now owns 25,088 shares of the oil and gas producer’s stock valued at $833,000 after purchasing an additional 9,610 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $31.32 on Wednesday. The stock’s 50-day simple moving average is $29.97 and its 200-day simple moving average is $32.12. The firm has a market capitalization of $65.79 billion, a PE ratio of 12.16 and a beta of 1.48. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a $0.4117 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. This represents a $1.65 annualized dividend and a dividend yield of 5.26%. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Analysts Set New Price Targets

CNQ has been the subject of several recent research reports. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report 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. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

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).