Janney Montgomery Scott LLC increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 42.1% during the second quarter, Holdings Channel reports. The firm owned 36,109 shares of the oil and gas producer’s stock after buying an additional 10,703 shares during the period. Janney Montgomery Scott LLC’s holdings in Canadian Natural Resources Limited were worth $1,041,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in Canadian Natural Resources Limited by 87.1% in the first quarter. Quadrant Capital Group LLC now owns 3,737 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 1,740 shares during the last quarter. Acadian Asset Management LLC raised its stake in Canadian Natural Resources Limited by 2,400.0% in the first quarter. Acadian Asset Management LLC now owns 5,000 shares of the oil and gas producer’s stock worth $163,000 after buying an additional 4,800 shares during the last quarter. Greenleaf Trust acquired a new stake in Canadian Natural Resources Limited during the second quarter worth approximately $204,000. Private Advisor Group LLC acquired a new stake in Canadian Natural Resources Limited during the first quarter worth approximately $205,000. Finally, ARP Americas LLC acquired a new stake in Canadian Natural Resources Limited during the first quarter worth approximately $211,000. 60.72% of the stock is owned by institutional investors and hedge funds.

Shares of Canadian Natural Resources Limited (CNQ) opened at 31.20 on Friday. The company has a 50 day moving average price of $30.01 and a 200 day moving average price of $30.65. The company has a market cap of $37.91 billion, a price-to-earnings ratio of 28.11 and a beta of 1.48. Canadian Natural Resources Limited has a one year low of $27.52 and a one year high of $35.28.

Canadian Natural Resources Limited declared that its board has initiated a stock repurchase plan on Wednesday, May 17th that permits the company to repurchase 27,930,000 outstanding shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a $0.2212 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.84%. This is an increase from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 14th. Canadian Natural Resources Limited’s dividend payout ratio is presently 78.43%.

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CNQ has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $36.00 target price on shares of Canadian Natural Resources Limited in a report on Thursday, June 22nd. ValuEngine raised Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup Inc. lowered Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Finally, National Bank Financial initiated coverage on Canadian Natural Resources Limited in a report on Tuesday, June 27th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $45.50.

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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