Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 772,375 shares of the oil and gas producer’s stock after purchasing an additional 43,130 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Canadian Natural Resources were worth $23,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CNQ. Duncker Streett & Co. Inc. bought a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $25,000. Continuum Advisory LLC grew its holdings in 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 worth $28,000 after purchasing an additional 490 shares during the last quarter. R Squared Ltd acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth $32,000. Coastline Trust Co purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter valued at $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Canadian Natural Resources in the 4th quarter worth $35,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, March 7th. 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. Finally, Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.00.

Canadian Natural Resources Trading Up 1.1 %

Shares of NYSE:CNQ opened at $28.71 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29. The stock has a market cap of $60.30 billion, a price-to-earnings ratio of 11.15 and a beta of 1.48. The business has a 50-day moving average price of $30.38 and a 200-day moving average price of $32.56.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.74%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 77.88%.

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).