M&T Bank Corp lessened its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,009 shares of the oil and gas producer's stock after selling 16,370 shares during the quarter. M&T Bank Corp's holdings in Canadian Natural Resources were worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Holocene Advisors LP purchased a new position in shares of Canadian Natural Resources during the 3rd quarter worth $13,700,000. Principal Securities Inc. raised its position in shares of Canadian Natural Resources by 595.2% during the 4th quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after purchasing an additional 5,982 shares during the period. SG Americas Securities LLC raised its position in shares of Canadian Natural Resources by 6.3% during 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 purchasing an additional 17,694 shares during the period. CIBC Asset Management Inc raised its position in shares of Canadian Natural Resources by 5.6% during 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 purchasing an additional 1,270,945 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Canadian Natural Resources by 87.0% during 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 purchasing an additional 2,064,492 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.
Shares of Canadian Natural Resources stock traded up $0.37 during trading hours on Friday, reaching $28.33. The company's stock had a trading volume of 11,417,979 shares, compared to its average volume of 7,054,186. The firm has a 50 day moving average price of $30.46 and a 200-day moving average price of $32.69. Canadian Natural Resources Limited has a one year low of $25.62 and a one year high of $41.29. 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 stock has a market cap of $59.56 billion, a P/E ratio of 11.00 and a beta of 1.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued 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 dividend on an annualized basis and a dividend yield of 5.81%. Canadian Natural Resources's payout ratio is 61.87%.
Several brokerages have recently commented on CNQ. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price target on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an "outperform" rating in a report on Friday. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Hold" and an average price target of $63.00.
Read Our Latest Analysis on CNQ
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).
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