Groupama Asset Managment Sells 56,859 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Groupama Asset Managment decreased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 51.2% in the fourth quarter, HoldingsChannel reports. The fund owned 54,105 shares of the oil and gas producer’s stock after selling 56,859 shares during the quarter. Groupama Asset Managment’s holdings in Canadian Natural Resources were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Duncker Streett & Co. Inc. bought a new stake in Canadian Natural Resources during the fourth quarter valued at about $25,000. Lee Danner & Bass Inc. bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at approximately $25,000. Continuum Advisory LLC increased 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 worth $28,000 after acquiring an additional 490 shares in the last quarter. Sandy Spring Bank bought a new stake in Canadian Natural Resources during the 4th quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CNQ shares. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $31.43 on Thursday. The business’s 50-day moving average is $29.96 and its 200 day moving average is $32.11. Canadian Natural Resources Limited has a 12 month low of $25.62 and a 12 month high of $41.29. The company has a market capitalization of $66.02 billion, a P/E ratio of 12.21 and a beta of 1.48. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. 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 5.24%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

About Canadian Natural Resources

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).