JPMorgan Chase & Co. Sells 663,567 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

JPMorgan Chase & Co. trimmed its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,290,648 shares of the oil and gas producer’s stock after selling 663,567 shares during the quarter. JPMorgan Chase & Co. owned about 0.63% of Canadian Natural Resources worth $441,382,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Canadian Natural Resources by 3.9% in the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after acquiring an additional 1,651,452 shares during the period. TD Asset Management Inc boosted its holdings in Canadian Natural Resources by 96.2% in the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after purchasing an additional 20,843,193 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Canadian Natural Resources by 93.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares during the period. 1832 Asset Management L.P. raised its stake in Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after buying an additional 16,245,046 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after buying an additional 14,246,978 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 0.1 %

CNQ opened at $30.16 on Friday. The firm’s 50 day simple moving average is $33.10 and its two-hundred day simple moving average is $34.35. The company has a market capitalization of $63.54 billion, a PE ratio of 11.71 and a beta of 1.47. Canadian Natural Resources Limited has a 1-year low of $29.23 and a 1-year high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The company had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the firm earned $0.96 EPS. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.388 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 13th. This represents a $1.55 dividend on an annualized basis and a yield of 5.15%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 64.59%.

Wall Street Analyst Weigh In

Separately, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.00.

About Canadian Natural Resources

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).