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

JPMorgan Chase & Co. grew its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 14,308,539 shares of the oil and gas producer’s stock after purchasing an additional 260,746 shares during the quarter. JPMorgan Chase & Co.’s holdings in Canadian Natural Resources were worth $484,344,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TD Waterhouse Canada Inc. raised its holdings in Canadian Natural Resources by 4.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,758,445 shares of the oil and gas producer’s stock worth $228,729,000 after purchasing an additional 315,460 shares during the period. SCP Investment LP acquired a new stake in shares of Canadian Natural Resources during the third quarter worth $1,144,000. Marshall Financial Group LLC acquired a new stake in shares of Canadian Natural Resources during the fourth quarter worth $869,000. Numerai GP LLC raised its holdings in shares of Canadian Natural Resources by 102.5% during the third quarter. Numerai GP LLC now owns 77,164 shares of the oil and gas producer’s stock worth $2,466,000 after acquiring an additional 39,049 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Canadian Natural Resources during the third quarter worth $1,593,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 1.7%

Shares of CNQ stock opened at $45.59 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.37. Canadian Natural Resources Limited has a 1 year low of $29.30 and a 1 year high of $51.34. The firm’s fifty day moving average price is $46.55 and its two-hundred day moving average price is $41.26. The firm 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 issued its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $7.57 billion. During the same period in the previous year, the business earned $1.16 EPS. On average, equities analysts predict that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently declared 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. This represents a $2.50 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, June 23rd. Canadian Natural Resources’s payout ratio is presently 54.63%.

Wall Street Analysts Forecast Growth

CNQ has been the topic of a number of research analyst reports. 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. 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. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, May 20th. Finally, Raymond James Financial upgraded shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.