Canadian Natural Resources Limited (NYSE:CNQ) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% during the 4th quarter, Holdings Channel reports. The fund owned 13,893,962 shares of the oil and gas producer’s stock after acquiring an additional 603,314 shares during the quarter. JPMorgan Chase & Co.’s holdings in Canadian Natural Resources were worth $428,907,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $25,000. Lee Danner & Bass Inc. acquired a new position in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Continuum Advisory LLC increased its holdings in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares during the last quarter. Sandy Spring Bank acquired a new stake in Canadian Natural Resources in the fourth quarter valued at $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ stock opened at $30.55 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $64.16 billion, a P/E ratio of 11.86 and a beta of 1.48. The business has a 50 day simple moving average of $29.98 and a 200-day simple moving average of $32.14. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a dividend of $0.4117 per share. The ex-dividend date is Friday, March 21st. This represents a $1.65 dividend on an annualized basis and a yield of 5.39%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s dividend payout ratio is currently 77.88%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday. Scotiabank upgraded shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Finally, Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

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).