Addenda Capital Inc. cut its stake in Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) by 4.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,456,449 shares of the oil and gas producer’s stock after selling 70,150 shares during the quarter. Canadian Natural Resource makes up approximately 3.6% of Addenda Capital Inc.’s portfolio, making the stock its 8th biggest holding. Addenda Capital Inc.’s holdings in Canadian Natural Resource were worth $52,553,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Atlantic Trust Group LLC grew its position in shares of Canadian Natural Resource by 54.7% in the third quarter. Atlantic Trust Group LLC now owns 33,091 shares of the oil and gas producer’s stock valued at $1,109,000 after purchasing an additional 11,700 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Canadian Natural Resource by 4.0% in the third quarter. Parametric Portfolio Associates LLC now owns 832,571 shares of the oil and gas producer’s stock valued at $27,883,000 after purchasing an additional 32,203 shares during the last quarter. Guardian Capital Advisors LP grew its position in shares of Canadian Natural Resource by 0.9% in the third quarter. Guardian Capital Advisors LP now owns 312,233 shares of the oil and gas producer’s stock valued at $13,020,000 after purchasing an additional 2,795 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Canadian Natural Resource by 65.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,835 shares of the oil and gas producer’s stock valued at $228,000 after purchasing an additional 2,710 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Canadian Natural Resource by 1,129.0% in the third quarter. Cubist Systematic Strategies LLC now owns 6,145 shares of the oil and gas producer’s stock valued at $206,000 after purchasing an additional 5,645 shares during the last quarter. Institutional investors and hedge funds own 59.41% of the company’s stock.

Several research firms have recently commented on CNQ. Zacks Investment Research upgraded shares of Canadian Natural Resource from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Tuesday. Canaccord Genuity reiterated a “buy” rating and issued a $53.00 price target on shares of Canadian Natural Resource in a research report on Wednesday, November 8th. Finally, Morgan Stanley increased their price target on shares of Canadian Natural Resource from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $46.29.

Shares of Canadian Natural Resource Ltd (CNQ) traded up $0.21 during midday trading on Friday, reaching $36.73. 1,949,800 shares of the company were exchanged, compared to its average volume of 2,121,275. Canadian Natural Resource Ltd has a 1 year low of $27.52 and a 1 year high of $37.38. The firm has a market capitalization of $44,830.00, a price-to-earnings ratio of 20.75, a P/E/G ratio of 3.93 and a beta of 1.46. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 0.71.

The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Tuesday, December 12th were given a dividend of $0.214 per share. The ex-dividend date was Monday, December 11th. This represents a $0.86 dividend on an annualized basis and a yield of 2.33%. Canadian Natural Resource’s dividend payout ratio (DPR) is currently 49.72%.

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Canadian Natural Resource 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 Resource (NYSE:CNQ)

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