Korea Investment CORP Boosts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Korea Investment CORP boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) by 16.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 637,065 shares of the oil and gas producer’s stock after buying an additional 89,352 shares during the period. Korea Investment CORP owned 0.06% of Canadian Natural Resources worth $34,161,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. US Bancorp DE increased its stake in Canadian Natural Resources by 3.3% during the 1st quarter. US Bancorp DE now owns 47,489 shares of the oil and gas producer’s stock worth $2,944,000 after buying an additional 1,499 shares in the last quarter. Capital World Investors grew its position in shares of Canadian Natural Resources by 25.4% in the first quarter. Capital World Investors now owns 124,407,484 shares of the oil and gas producer’s stock valued at $7,703,436,000 after purchasing an additional 25,232,354 shares in the last quarter. Covestor Ltd purchased a new stake in shares of Canadian Natural Resources in the first quarter valued at approximately $365,000. Close Asset Management Ltd purchased a new stake in shares of Canadian Natural Resources in the second quarter valued at approximately $41,351,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Canadian Natural Resources by 3.9% in the first quarter. Canada Pension Plan Investment Board now owns 24,179,559 shares of the oil and gas producer’s stock valued at $1,498,531,000 after purchasing an additional 900,000 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CNQ shares. National Bank Financial dropped their price target on Canadian Natural Resources from C$100.00 to C$88.00 in a research report on Friday, September 30th. Jefferies Financial Group started coverage on Canadian Natural Resources in a research report on Wednesday, October 19th. They issued a “hold” rating for the company. Credit Suisse Group restated a “neutral” rating on shares of Canadian Natural Resources in a research report on Thursday, August 11th. StockNews.com upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, November 17th. Finally, Raymond James upped their price objective on Canadian Natural Resources from C$85.00 to C$87.00 in a report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.14.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $59.97 on Thursday. The stock’s 50-day moving average is $55.76 and its two-hundred day moving average is $56.11. The firm has a market cap of $66.41 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.56 and a beta of 1.55. Canadian Natural Resources Limited has a 1 year low of $37.40 and a 1 year high of $70.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.78.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.6237 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $2.49 annualized dividend and a dividend yield of 4.16%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 28.45%.

Canadian Natural Resources Company Profile

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Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

See Also

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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