Assetmark Inc. Acquires 439 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Assetmark Inc. raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 57.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,205 shares of the oil and gas producer’s stock after purchasing an additional 439 shares during the quarter. Assetmark Inc.’s holdings in Canadian Natural Resources were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. Fisher Asset Management LLC increased its position in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock worth $1,362,332,000 after acquiring an additional 550,242 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Canadian Natural Resources by 5.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock worth $945,965,000 after acquiring an additional 1,383,478 shares in the last quarter. CIBC Asset Management Inc grew 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 worth $746,025,000 after acquiring an additional 1,270,945 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Canadian Natural Resources by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,768,297 shares of the oil and gas producer’s stock worth $328,807,000 after acquiring an additional 727,798 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Canadian Natural Resources by 63.5% in the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after purchasing an additional 3,198,007 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Price Performance

CNQ stock opened at $29.40 on Friday. The firm has a 50 day moving average of $30.25 and a 200-day moving average of $32.43. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 12 month low of $25.62 and a 12 month high of $41.29. The firm has a market capitalization of $61.76 billion, a P/E ratio of 11.42 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The company also recently declared 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 represents a $1.65 annualized dividend and a dividend yield of 5.60%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Canadian Natural Resources Company 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).