Mitsubishi UFJ Trust & Banking Corp Lowers Position in Canadian Natural Resources Limited (NYSE:CNQ)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) by 26.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,947 shares of the oil and gas producer’s stock after selling 30,500 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Canadian Natural Resources were worth $5,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Canadian Natural Resources by 25.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,405,842 shares of the oil and gas producer’s stock valued at $334,636,000 after purchasing an additional 1,098,345 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $403,000. HighTower Advisors LLC increased its stake in shares of Canadian Natural Resources by 49.5% during the first quarter. HighTower Advisors LLC now owns 69,870 shares of the oil and gas producer’s stock valued at $4,321,000 after purchasing an additional 23,137 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Canadian Natural Resources during the first quarter valued at approximately $701,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Canadian Natural Resources by 30.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,128 shares of the oil and gas producer’s stock valued at $814,000 after acquiring an additional 3,055 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Canadian Natural Resources Stock Up 2.0 %

CNQ opened at $55.02 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.65 and a current ratio of 0.85. Canadian Natural Resources Limited has a fifty-two week low of $31.71 and a fifty-two week high of $70.60. The firm’s fifty day moving average is $52.76 and its 200 day moving average is $58.24. The stock has a market cap of $61.82 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.50.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Friday, September 16th will be paid a dividend of $0.5822 per share. This represents a $2.33 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Thursday, September 15th. Canadian Natural Resources’s dividend payout ratio (DPR) is 31.10%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CNQ shares. Stifel Nicolaus raised their price target on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a research report on Thursday, June 30th. BMO Capital Markets raised their price target on shares of Canadian Natural Resources from C$92.00 to C$95.00 in a research report on Friday, May 6th. Bank of America raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday, July 19th. TD Securities raised their price target on shares of Canadian Natural Resources from C$90.00 to C$94.00 in a research report on Friday, May 6th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Canadian Natural Resources in a research report on Thursday, August 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average price target of $86.79.

Canadian Natural Resources Company Profile

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Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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