Franklin Resources Inc. reduced its stake in Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,761,035 shares of the oil and gas producer’s stock after selling 178,226 shares during the period. Franklin Resources Inc. owned 0.31% of Canadian Natural Resource worth $134,491,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in Canadian Natural Resource in the fourth quarter valued at approximately $127,000. Calton & Associates Inc. purchased a new position in Canadian Natural Resource in the fourth quarter valued at approximately $178,000. Eqis Capital Management Inc. purchased a new position in Canadian Natural Resource in the fourth quarter valued at approximately $205,000. Royal Bank of Scotland Group PLC acquired a new stake in shares of Canadian Natural Resource in the fourth quarter valued at approximately $210,000. Finally, Lucas Capital Management acquired a new stake in shares of Canadian Natural Resource in the third quarter valued at approximately $203,000. Institutional investors own 60.68% of the company’s stock.
Shares of Canadian Natural Resource Ltd (NYSE:CNQ) opened at $29.96 on Wednesday. The firm has a market capitalization of $36,908.99, a P/E ratio of 0.08, a PEG ratio of 2.53 and a beta of 1.38. Canadian Natural Resource Ltd has a fifty-two week low of $27.52 and a fifty-two week high of $37.63. The company has a quick ratio of 0.64, a current ratio of 0.78 and a debt-to-equity ratio of 0.65.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 16th will be issued a dividend of $0.261 per share. The ex-dividend date is Thursday, March 15th. This is an increase from Canadian Natural Resource’s previous quarterly dividend of $0.21. This represents a $1.04 annualized dividend and a dividend yield of 3.48%. Canadian Natural Resource’s dividend payout ratio (DPR) is currently 0.28%.
CNQ has been the subject of several research analyst reports. UBS Group initiated coverage on Canadian Natural Resource in a report on Wednesday, March 7th. They issued a “buy” rating for the company. AltaCorp Capital reissued a “buy” rating and issued a $52.00 price objective on shares of Canadian Natural Resource in a report on Monday, January 15th. Zacks Investment Research downgraded Canadian Natural Resource from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 14th. Wells Fargo & Co downgraded Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley increased their price objective on Canadian Natural Resource from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Natural Resource currently has an average rating of “Buy” and an average price target of $44.67.
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About Canadian Natural Resource
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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