Jupiter Asset Management Ltd. Takes Position in Canadian Natural Resources Limited (NYSE:CNQ)

Jupiter Asset Management Ltd. purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 497,915 shares of the oil and gas producer’s stock, valued at approximately $15,365,000.

A number of other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 34.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 62,168 shares of the oil and gas producer’s stock valued at $1,919,000 after purchasing an additional 16,029 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $16,510,000. Independent Advisor Alliance bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at about $256,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Canadian Natural Resources by 5.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 772,375 shares of the oil and gas producer’s stock valued at $23,834,000 after purchasing an additional 43,130 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Canadian Natural Resources by 1.7% in the fourth quarter. Amundi now owns 7,087,352 shares of the oil and gas producer’s stock valued at $231,260,000 after purchasing an additional 116,731 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNQ. Royal Bank of Canada boosted their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $29.24 on Thursday. The business’s 50 day moving average price is $30.34 and its two-hundred day moving average price is $32.54. The company has a market cap of $61.41 billion, a PE ratio of 11.35 and a beta of 1.48. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a twelve month low of $25.62 and a twelve month high of $41.29.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. This represents a $1.65 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. Canadian Natural Resources’s payout ratio is 77.88%.

Canadian Natural Resources Company 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).