Tocqueville Asset Management L.P. Boosts Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Tocqueville Asset Management L.P. increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,424 shares of the oil and gas producer’s stock after buying an additional 4,265 shares during the period. Tocqueville Asset Management L.P.’s holdings in Canadian Natural Resources were worth $1,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CNQ. Duncker Streett & Co. Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter worth about $25,000. Continuum Advisory LLC raised its position 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 valued at $28,000 after purchasing an additional 490 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in Canadian Natural Resources during the 4th quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Canadian Natural Resources during the third quarter worth $37,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 2.2 %

Shares of NYSE:CNQ opened at $30.66 on Thursday. The company has a market capitalization of $64.40 billion, a price-to-earnings ratio of 11.91 and a beta of 1.48. The company has a 50 day moving average of $30.10 and a two-hundred day moving average of $32.29. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.37%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 77.88%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada raised their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and a consensus target price of $63.00.

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).