Mitsubishi UFJ Trust & Banking Corp Purchases Shares of 20,800 Canadian Natural Resources Limited (NYSE:CNQ)

Mitsubishi UFJ Trust & Banking Corp purchased a new position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,800 shares of the oil and gas producer’s stock, valued at approximately $643,000.

Other hedge funds have also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in shares of Canadian Natural Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new stake in Canadian Natural Resources in the 4th quarter worth approximately $25,000. Continuum Advisory LLC grew 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 buying an additional 490 shares during the last quarter. Sandy Spring Bank purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.7 %

Shares of NYSE CNQ opened at $31.32 on Wednesday. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a 50-day moving average of $29.97 and a 200 day moving average of $32.12. The stock has a market cap of $65.79 billion, a P/E ratio of 12.16 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.4117 dividend. This is a boost 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 5.26%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is currently 77.88%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Finally, Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Four 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, the stock has an average rating of “Hold” and a consensus target price of $63.00.

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).