Swiss National Bank Trims Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Swiss National Bank reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,135,562 shares of the oil and gas producer’s stock after selling 300,000 shares during the period. Swiss National Bank’s holdings in Canadian Natural Resources were worth $189,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources in the 4th quarter valued at about $25,000. Continuum Advisory LLC raised its holdings in Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares during the period. Coastline Trust Co purchased a new stake in Canadian Natural Resources in the 3rd quarter valued at about $33,000. R Squared Ltd purchased a new stake in Canadian Natural Resources in the 4th quarter valued at about $32,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Canadian Natural Resources in the 3rd quarter valued at about $37,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 1.9 %

CNQ stock opened at $28.70 on Friday. The company’s 50 day moving average price is $30.29 and its 200 day moving average price is $32.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29. The firm has a market capitalization of $60.28 billion, a price-to-earnings ratio of 11.14 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors 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 5.74%. This is an increase 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%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CNQ. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Royal Bank of Canada boosted their price target on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock 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. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and an average price target of $63.00.

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).