Massachusetts Financial Services Co. MA Sells 210,774 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Massachusetts Financial Services Co. MA decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 4,372,509 shares of the oil and gas producer’s stock after selling 210,774 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Canadian Natural Resources were worth $134,979,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $25,000. Continuum Advisory LLC boosted its position in shares of 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 worth $28,000 after purchasing an additional 490 shares in the last quarter. Sandy Spring Bank purchased a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust bought a new position in Canadian Natural Resources during the 4th quarter valued at approximately $31,000. Institutional investors own 74.03% of the company’s stock.

Analysts Set New Price Targets

CNQ has been the topic of several analyst reports. 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 reiterated an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $27.61 on Friday. The business has a 50-day simple moving average of $29.86 and a two-hundred day simple moving average of $32.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a market cap of $58.00 billion, a price-to-earnings ratio of 10.72 and a beta of 1.48. Canadian Natural Resources Limited has a fifty-two week low of $25.62 and a fifty-two week high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 21st were given a dividend of $0.4117 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.96%. Canadian Natural Resources’s dividend payout ratio is 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).