JPMorgan Chase & Co. Raises Stake in Canadian Natural Resources Limited (NYSE:CNQ)

JPMorgan Chase & Co. grew its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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. owned about 0.66% of Canadian Natural Resources worth $428,907,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CNQ. Duncker Streett & Co. Inc. acquired a new stake in Canadian Natural Resources during the fourth quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $25,000. Continuum Advisory LLC increased its holdings in shares of Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the last quarter. Sandy Spring Bank purchased a new stake in shares of Canadian Natural Resources during the 4th quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new position in Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $30.55 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market cap of $64.16 billion, a P/E ratio of 11.86 and a beta of 1.48. The stock has a 50-day moving average of $29.98 and a two-hundred day moving average of $32.14. Canadian Natural Resources Limited has a 1-year low of $25.62 and a 1-year high of $41.29.

Canadian Natural Resources Increases Dividend

The firm also recently announced 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. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Analysts Set New Price Targets

CNQ has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research report on Thursday. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report 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. 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. Finally, Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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).