Quadrant Capital Group LLC Has $336,000 Stake in Canadian Natural Resources Limited (NYSE:CNQ)

Quadrant Capital Group LLC cut its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,977 shares of the oil and gas producer’s stock after selling 1,221 shares during the quarter. Quadrant Capital Group LLC’s holdings in Canadian Natural Resources were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Arrowstreet Capital Limited Partnership acquired a new position in shares of Canadian Natural Resources in the 1st quarter valued at approximately $960,796,000. MUFG Securities EMEA plc acquired a new position in shares of Canadian Natural Resources in the 2nd quarter valued at approximately $451,985,000. Bank of Nova Scotia raised its position in shares of Canadian Natural Resources by 29.8% in the 2nd quarter. Bank of Nova Scotia now owns 24,739,040 shares of the oil and gas producer’s stock valued at $1,409,093,000 after buying an additional 5,684,896 shares in the last quarter. Capital International Investors raised its position in shares of Canadian Natural Resources by 88.2% in the 1st quarter. Capital International Investors now owns 7,930,544 shares of the oil and gas producer’s stock valued at $491,064,000 after buying an additional 3,716,523 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Canadian Natural Resources by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 40,235,475 shares of the oil and gas producer’s stock valued at $2,493,796,000 after buying an additional 2,332,528 shares in the last quarter. 73.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNQ has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Jefferies Financial Group lifted their price target on shares of Canadian Natural Resources from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, August 28th. CIBC lifted their price target on shares of Canadian Natural Resources from $90.00 to $93.00 and gave the company an “outperformer” rating in a report on Tuesday, August 29th. National Bank Financial lowered shares of Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company lifted their price target on shares of Canadian Natural Resources from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.63.

Canadian Natural Resources Stock Up 4.1 %

Shares of NYSE CNQ opened at $66.58 on Friday. The company has a market capitalization of $72.13 billion, a P/E ratio of 13.96 and a beta of 1.52. Canadian Natural Resources Limited has a 52-week low of $48.81 and a 52-week high of $68.30. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.65 and a current ratio of 0.91. The company’s 50 day moving average price is $64.51 and its 200-day moving average price is $60.37.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 8th will be given a $0.7203 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.33%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.67. Canadian Natural Resources’s payout ratio is 55.97%.

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).