Orion Portfolio Solutions LLC Has $2.53 Million Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Orion Portfolio Solutions LLC lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 81,954 shares of the oil and gas producer’s stock after purchasing an additional 497 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Canadian Natural Resources were worth $2,530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA increased its holdings in Canadian Natural Resources by 0.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 688,803 shares of the oil and gas producer’s stock worth $21,255,000 after purchasing an additional 5,976 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Canadian Natural Resources by 4.5% during the fourth quarter. JPMorgan Chase & Co. now owns 13,893,962 shares of the oil and gas producer’s stock worth $428,907,000 after purchasing an additional 603,314 shares during the last quarter. Mufg Securities Canada LTD. raised its holdings in Canadian Natural Resources by 70.6% in the 4th quarter. Mufg Securities Canada LTD. now owns 3,222,661 shares of the oil and gas producer’s stock valued at $99,431,000 after buying an additional 1,334,101 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Canadian Natural Resources during the 4th quarter worth approximately $643,000. Finally, GQG Partners LLC acquired a new stake in Canadian Natural Resources during the 4th quarter worth approximately $5,689,000. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CNQ shares. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Trading Up 1.7 %

NYSE CNQ opened at $31.32 on Wednesday. The stock has a market capitalization of $65.79 billion, a P/E ratio of 12.16 and a beta of 1.48. The business has a 50 day simple moving average of $29.97 and a 200 day simple moving average of $32.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a one year low of $25.62 and a one year high of $41.29.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a $0.4117 dividend. The ex-dividend date is Friday, March 21st. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 5.26%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 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).