Nikko Asset Management Americas Inc. Cuts Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Nikko Asset Management Americas Inc. reduced its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,171 shares of the oil and gas producer’s stock after selling 8,264 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Canadian Natural Resources were worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Duncker Streett & Co. Inc. purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth $25,000. Continuum Advisory LLC lifted its stake in shares of Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 490 shares during the period. R Squared Ltd purchased a new stake in Canadian Natural Resources during the fourth quarter worth about $32,000. Coastline Trust Co acquired a new position in Canadian Natural Resources during the third quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Canadian Natural Resources in the fourth quarter valued at about $35,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Stock Up 1.4 %

Shares of NYSE:CNQ opened at $29.82 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $62.63 billion, a P/E ratio of 11.58 and a beta of 1.48. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29. The stock’s fifty day simple moving average is $30.20 and its 200-day simple moving average is $32.35.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.52%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is 77.88%.

About Canadian Natural Resources

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).