JPMorgan Chase & Co. Purchases 603,314 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

JPMorgan Chase & Co. grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,893,962 shares of the oil and gas producer's stock after acquiring an additional 603,314 shares during the period. JPMorgan Chase & Co. owned about 0.66% of Canadian Natural Resources worth $428,907,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CNQ. Assenagon Asset Management S.A. lifted its position in shares of Canadian Natural Resources by 6,902.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer's stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Canadian Natural Resources by 73.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer's stock valued at $260,116,000 after buying an additional 3,312,442 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Natural Resources by 31.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock valued at $414,223,000 after acquiring an additional 3,224,548 shares during the last quarter. National Bank of Canada FI grew its holdings in Canadian Natural Resources by 63.5% during the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer's stock worth $273,417,000 after acquiring an additional 3,198,007 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock worth $136,994,000 after acquiring an additional 2,064,492 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CNQ shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a report on Thursday, March 27th. 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. Scotiabank raised shares of Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, March 19th. Raymond James reaffirmed a "market perform" rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.00.

Canadian Natural Resources Stock Down 3.0 %

CNQ stock traded down $0.95 during midday trading on Thursday, reaching $30.49. 3,505,506 shares of the company's stock traded hands, compared to its average volume of 7,124,275. Canadian Natural Resources Limited has a 52 week low of $25.62 and a 52 week high of $41.29. The company has a market cap of $64.04 billion, a price-to-earnings ratio of 11.84 and a beta of 1.48. The firm's fifty day moving average price is $29.96 and its 200-day moving average price is $32.11. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be issued a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.

Canadian Natural Resources Company 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).