Bank of America Corp DE Has $266.40 Million Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Bank of America Corp DE grew its holdings in Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) by 32.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,298,224 shares of the oil and gas producer’s stock after purchasing an additional 1,044,486 shares during the period. Bank of America Corp DE owned about 0.37% of Canadian Natural Resources worth $266,404,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Dividend Assets Capital LLC increased its holdings in shares of Canadian Natural Resources by 0.4% in the 1st quarter. Dividend Assets Capital LLC now owns 39,178 shares of the oil and gas producer’s stock valued at $2,428,000 after purchasing an additional 161 shares during the period. Raymond James Trust N.A. increased its holdings in Canadian Natural Resources by 2.3% in the first quarter. Raymond James Trust N.A. now owns 8,432 shares of the oil and gas producer’s stock worth $523,000 after buying an additional 191 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in Canadian Natural Resources by 4.4% in the fourth quarter. Evergreen Capital Management LLC now owns 6,498 shares of the oil and gas producer’s stock worth $275,000 after buying an additional 273 shares during the last quarter. Mraz Amerine & Associates Inc. increased its holdings in Canadian Natural Resources by 0.4% in the first quarter. Mraz Amerine & Associates Inc. now owns 70,417 shares of the oil and gas producer’s stock worth $4,364,000 after buying an additional 300 shares during the last quarter. Finally, Pacifica Partners Inc. increased its holdings in Canadian Natural Resources by 0.4% in the first quarter. Pacifica Partners Inc. now owns 81,257 shares of the oil and gas producer’s stock worth $4,630,000 after buying an additional 335 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $53.90 on Tuesday. The business has a fifty day simple moving average of $53.32 and a 200 day simple moving average of $58.34. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $60.56 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 0.51 and a beta of 1.48. Canadian Natural Resources Limited has a one year low of $31.71 and a one year high of $70.60.

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 $0.5822 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.33 dividend on an annualized basis and a dividend yield of 4.32%. Canadian Natural Resources’s payout ratio is 30.05%.

Analyst Upgrades and Downgrades

CNQ has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on Canadian Natural Resources from C$111.00 to C$115.00 in a report on Thursday, June 30th. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Credit Suisse Group restated a “neutral” rating on shares of Canadian Natural Resources in a report on Thursday, August 11th. National Bank Financial decreased their target price on Canadian Natural Resources from C$115.00 to C$100.00 in a research report on Monday, July 18th. Finally, Scotiabank cut Canadian Natural Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, June 8th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.79.

Canadian Natural Resources 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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