Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 89.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,100 shares of the oil and gas producer’s stock after selling 1,256,870 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Canadian Natural Resources were worth $4,356,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Holocene Advisors LP acquired a new position in shares of Canadian Natural Resources in the 3rd quarter valued at $13,700,000. Principal Securities Inc. raised its stake in shares of Canadian Natural Resources by 595.2% in the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer’s stock valued at $216,000 after acquiring an additional 5,982 shares during the period. SG Americas Securities LLC raised its stake in shares of Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after acquiring an additional 17,694 shares during the period. CIBC Asset Management Inc raised its stake in shares of Canadian Natural Resources by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after acquiring an additional 1,270,945 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after acquiring an additional 2,064,492 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CNQ shares. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada raised their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $29.24 on Thursday. Canadian Natural Resources Limited has a 12-month low of $25.62 and a 12-month high of $41.29. The company has a market capitalization of $61.41 billion, a price-to-earnings ratio of 11.35 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm’s fifty day moving average price is $30.34 and its 200 day moving average price is $32.54.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a dividend of $0.4117 per share. This is an increase 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 yield of 5.63%. Canadian Natural Resources’s payout ratio is 77.88%.

Canadian Natural Resources 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).