Scotia Capital Inc. Buys 96,807 Shares of Canadian Natural Resources Limited (CNQ)

Scotia Capital Inc. increased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,645,676 shares of the oil and gas producer’s stock after purchasing an additional 96,807 shares during the quarter. Canadian Natural Resources Limited comprises about 0.8% of Scotia Capital Inc.’s holdings, making the stock its 29th largest position. Scotia Capital Inc. owned 0.14% of Canadian Natural Resources Limited worth $47,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors grew its position in shares of Canadian Natural Resources Limited by 6.0% in the second quarter. Capital World Investors now owns 36,065,983 shares of the oil and gas producer’s stock valued at $1,040,707,000 after purchasing an additional 2,042,846 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources Limited by 2.3% in the second quarter. Vanguard Group Inc. now owns 26,244,673 shares of the oil and gas producer’s stock valued at $756,896,000 after purchasing an additional 599,935 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Canadian Natural Resources Limited by 0.6% in the second quarter. TD Asset Management Inc. now owns 22,073,306 shares of the oil and gas producer’s stock valued at $636,007,000 after purchasing an additional 136,364 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Canadian Natural Resources Limited by 11.9% in the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock valued at $482,767,000 after purchasing an additional 1,780,934 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Canadian Natural Resources Limited by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 9,762,039 shares of the oil and gas producer’s stock valued at $281,539,000 after purchasing an additional 2,025,045 shares in the last quarter. Institutional investors own 58.56% of the company’s stock.

Canadian Natural Resources Limited (NYSE CNQ) traded up 1.52% during trading on Tuesday, reaching $33.49. The company had a trading volume of 727,787 shares. The firm has a market capitalization of $40.70 billion, a P/E ratio of 29.25 and a beta of 1.47. The firm’s 50-day moving average price is $32.53 and its 200 day moving average price is $31.16. Canadian Natural Resources Limited has a one year low of $27.52 and a one year high of $35.28.

The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were issued a dividend of $0.2212 per share. The ex-dividend date of this dividend was Thursday, September 14th. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.68%. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is currently 86.28%.

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Several equities analysts have recently weighed in on the company. BidaskClub upgraded Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded Canadian Natural Resources Limited from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 17th. Citigroup Inc. cut Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and reduced their price target for the company from $40.00 to $33.00 in a research report on Friday, July 21st. They noted that the move was a valuation call. Morgan Stanley upgraded Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research report on Wednesday, July 19th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $47.00 price target on shares of Canadian Natural Resources Limited in a research report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.45.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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

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