TD Asset Management Inc. raised its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 22,073,306 shares of the oil and gas producer’s stock after buying an additional 136,364 shares during the period. Canadian Natural Resources Limited accounts for approximately 1.0% of TD Asset Management Inc.’s portfolio, making the stock its 20th largest position. TD Asset Management Inc.’s holdings in Canadian Natural Resources Limited were worth $636,007,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AXA raised its stake in Canadian Natural Resources Limited by 1.0% in the first quarter. AXA now owns 81,868 shares of the oil and gas producer’s stock valued at $2,684,000 after buying an additional 789 shares in the last quarter. Atlantic Trust Group LLC raised its stake in Canadian Natural Resources Limited by 3.8% in the first quarter. Atlantic Trust Group LLC now owns 22,195 shares of the oil and gas producer’s stock valued at $728,000 after buying an additional 814 shares in the last quarter. World Asset Management Inc raised its stake in Canadian Natural Resources Limited by 1.6% in the first quarter. World Asset Management Inc now owns 68,602 shares of the oil and gas producer’s stock valued at $2,249,000 after buying an additional 1,083 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in Canadian Natural Resources Limited by 16.8% in the second quarter. Mraz Amerine & Associates Inc. now owns 10,904 shares of the oil and gas producer’s stock valued at $314,000 after buying an additional 1,570 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in Canadian Natural Resources Limited by 2.0% in the first quarter. Capstone Asset Management Co. now owns 85,639 shares of the oil and gas producer’s stock valued at $2,808,000 after buying an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 60.72% of the company’s stock.

Canadian Natural Resources Limited (CNQ) opened at 32.11 on Monday. The company’s 50 day moving average is $29.24 and its 200 day moving average is $30.58. The stock has a market cap of $35.87 billion, a P/E ratio of 305.81 and a beta of 1.48. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28.

Canadian Natural Resources Limited declared that its Board of Directors has approved a share buyback plan on Wednesday, May 17th that authorizes the company to buyback 27,930,000 outstanding shares. This buyback authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a dividend of $0.2212 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase 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 2.76%. Canadian Natural Resources Limited’s payout ratio is presently 78.43%.

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Several research firms have recently commented on CNQ. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $36.00 price target on shares of Canadian Natural Resources Limited in a research report on Thursday, June 22nd. Citigroup Inc. lowered shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered 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 shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research report on Wednesday, July 19th. ValuEngine upgraded shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Canadian Natural Resources Limited presently has a consensus rating of “Buy” and a consensus price target of $45.46.

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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