JPMorgan Chase & Co. Has $484.34 Million Stake in Canadian Natural Resources Limited $CNQ

JPMorgan Chase & Co. raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,308,539 shares of the oil and gas producer’s stock after buying an additional 260,746 shares during the period. JPMorgan Chase & Co. owned about 0.69% of Canadian Natural Resources worth $484,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Ted Buchan & Co increased its holdings in shares of Canadian Natural Resources by 0.6% during the fourth quarter. Ted Buchan & Co now owns 43,814 shares of the oil and gas producer’s stock worth $1,483,000 after buying an additional 260 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of Canadian Natural Resources by 2.7% during the fourth quarter. FDx Advisors Inc. now owns 10,312 shares of the oil and gas producer’s stock worth $349,000 after buying an additional 270 shares in the last quarter. Tacita Capital Inc increased its holdings in shares of Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 330 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 26,486 shares of the oil and gas producer’s stock worth $897,000 after buying an additional 330 shares in the last quarter. Finally, Rathbones Group PLC increased its holdings in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Rathbones Group PLC now owns 26,308 shares of the oil and gas producer’s stock worth $892,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

CNQ opened at $45.59 on Thursday. Canadian Natural Resources Limited has a one year low of $29.30 and a one year high of $51.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The company’s 50 day simple moving average is $46.55 and its 200-day simple moving average is $41.26. The stock has a market capitalization of $94.88 billion, a P/E ratio of 13.61 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.57 billion. During the same period last year, the firm earned $1.16 earnings per share. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 4.2 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 23rd will be paid a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 54.63%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday. Royal Bank Of Canada raised their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. ATB Cormark Capital Markets lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Weiss Ratings lowered shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group increased their price target on shares of Canadian Natural Resources from $37.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $57.00.

Canadian Natural Resources Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.