Brandywine Global Investment Management LLC increased its holdings in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,537,493 shares of the oil and gas producer’s stock after purchasing an additional 286,927 shares during the quarter. Canadian Natural Resources accounts for 1.2% of Brandywine Global Investment Management LLC’s portfolio, making the stock its 16th biggest holding. Brandywine Global Investment Management LLC owned about 0.54% of Canadian Natural Resources worth $157,750,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. TLP Group LLC grew its holdings in Canadian Natural Resources by 34.9% during the 4th quarter. TLP Group LLC now owns 7,475 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 1,934 shares in the last quarter. QS Investors LLC grew its holdings in Canadian Natural Resources by 39.9% during the 4th quarter. QS Investors LLC now owns 15,967 shares of the oil and gas producer’s stock valued at $385,000 after buying an additional 4,550 shares in the last quarter. Geode Capital Management LLC grew its holdings in Canadian Natural Resources by 23.7% during the 4th quarter. Geode Capital Management LLC now owns 11,718 shares of the oil and gas producer’s stock valued at $282,000 after buying an additional 2,242 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Canadian Natural Resources by 19.3% during the 4th quarter. Natixis Advisors L.P. now owns 206,488 shares of the oil and gas producer’s stock valued at $4,982,000 after buying an additional 33,464 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Canadian Natural Resources by 33.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,046,432 shares of the oil and gas producer’s stock valued at $145,900,000 after buying an additional 1,508,995 shares in the last quarter. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. ValuEngine upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Thursday. Evercore ISI assumed coverage on Canadian Natural Resources in a report on Wednesday. They set an “in-line” rating for the company. Canaccord Genuity restated a “buy” rating and set a $50.00 price target on shares of Canadian Natural Resources in a report on Tuesday, November 20th. Zacks Investment Research upgraded Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a report on Monday, February 11th. Finally, Tudor Pickering raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Canadian Natural Resources has a consensus rating of “Buy” and an average price target of $44.00.
NYSE:CNQ opened at $27.72 on Friday. The company has a market capitalization of $33.33 billion, a PE ratio of 12.89, a P/E/G ratio of 4.51 and a beta of 1.18. Canadian Natural Resources Ltd has a 1 year low of $21.85 and a 1 year high of $38.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.63 and a quick ratio of 0.43.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 22nd will be paid a $0.2821 dividend. This represents a $1.13 annualized dividend and a dividend yield of 4.07%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 46.98%.
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About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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