Renaissance Technologies LLC Has $10.94 Million Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Renaissance Technologies LLC trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ – Get Rating) (TSE:CNQ) by 68.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,100 shares of the oil and gas producer’s stock after selling 507,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Canadian Natural Resources were worth $10,942,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CNQ. Hexagon Capital Partners LLC boosted its stake in shares of Canadian Natural Resources by 133.2% during the third quarter. Hexagon Capital Partners LLC now owns 639 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 365 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new stake in shares of Canadian Natural Resources during the third quarter valued at about $31,000. Captrust Financial Advisors boosted its stake in shares of Canadian Natural Resources by 57.6% during the second quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 217 shares in the last quarter. CWM LLC boosted its stake in shares of Canadian Natural Resources by 59.2% during the third quarter. CWM LLC now owns 1,285 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 478 shares in the last quarter. Finally, Power Corp of Canada acquired a new stake in shares of Canadian Natural Resources during the first quarter valued at about $61,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Up 2.3 %

Shares of Canadian Natural Resources stock opened at $60.28 on Monday. 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 Limited has a 52 week low of $44.45 and a 52 week high of $70.60. The stock has a 50 day moving average price of $57.59 and a two-hundred day moving average price of $56.48. The stock has a market capitalization of $66.44 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.57.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Friday, March 17th will be paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Thursday, March 16th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.62. Canadian Natural Resources’s dividend payout ratio (DPR) is 34.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CNQ shares. Scotiabank lowered their price objective on Canadian Natural Resources from C$91.00 to C$86.00 in a research report on Tuesday, January 17th. TD Securities raised their price objective on Canadian Natural Resources from C$92.00 to C$97.00 in a research report on Thursday, December 1st. The Goldman Sachs Group upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $69.00 in a research report on Monday, November 21st. National Bank Financial raised their price objective on Canadian Natural Resources from C$88.00 to C$105.00 in a research report on Thursday, December 1st. Finally, Stifel Firstegy restated a “buy” rating on shares of Canadian Natural Resources in a research report on Thursday, January 12th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.23.

About Canadian Natural Resources

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Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading, Midstream & Refining, and Exploration & Production.