JPMorgan Chase & Co. Has $448.97 Million Holdings in Canadian Natural Resources Limited $CNQ

JPMorgan Chase & Co. decreased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,047,793 shares of the oil and gas producer’s stock after selling 44,844 shares during the period. JPMorgan Chase & Co.’s holdings in Canadian Natural Resources were worth $448,967,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. St. Johns Investment Management Company LLC bought a new stake in Canadian Natural Resources during the 3rd quarter worth approximately $32,000. Nisa Investment Advisors LLC grew its holdings in shares of Canadian Natural Resources by 100.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Quarry LP acquired a new stake in shares of Canadian Natural Resources in the third quarter valued at $32,000. Geneos Wealth Management Inc. increased its stake in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 528 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Canadian Natural Resources by 3,182.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 1,655 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNQ. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. 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. Royal Bank Of Canada boosted their price objective on shares of Canadian Natural Resources from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.00.

Canadian Natural Resources Stock Performance

CNQ stock opened at $49.00 on Wednesday. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $49.16. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 0.36. The company has a market cap of $102.14 billion, a P/E ratio of 13.28 and a beta of 0.63. The business’s fifty day moving average is $39.87 and its 200-day moving average is $34.98.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.06. The firm had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.64 billion. Canadian Natural Resources had a return on equity of 17.84% and a net margin of 24.48%.During the same quarter in the prior year, the firm posted $0.93 earnings per share. Equities research analysts forecast that Canadian Natural Resources Limited will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Friday, March 20th will be issued a dividend of $0.625 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.59. This represents a $2.50 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Friday, March 20th. Canadian Natural Resources’s dividend payout ratio is presently 45.53%.

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.