Jupiter Asset Management Ltd. Takes $15.37 Million Position in Canadian Natural Resources Limited (NYSE:CNQ)

Jupiter Asset Management Ltd. bought a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 497,915 shares of the oil and gas producer’s stock, valued at approximately $15,365,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Assenagon Asset Management S.A. increased its stake in shares of Canadian Natural Resources by 6,902.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after buying an additional 3,600,686 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Canadian Natural Resources by 73.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock valued at $260,116,000 after buying an additional 3,312,442 shares during the period. National Bank of Canada FI increased its stake in shares of Canadian Natural Resources by 63.5% in the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock valued at $273,417,000 after buying an additional 3,198,007 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock valued at $136,994,000 after buying an additional 2,064,492 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Canadian Natural Resources by 3.9% in the 3rd 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 purchasing an additional 1,651,452 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ stock 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 current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $61.41 billion, a PE ratio of 11.35 and a beta of 1.48. 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. Shareholders of record on Friday, March 21st will be issued a dividend of $0.4117 per share. The ex-dividend date of this dividend is Friday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a yield of 5.63%. Canadian Natural Resources’s payout ratio is currently 77.88%.

Wall Street Analyst Weigh In

CNQ has been the topic of several recent research reports. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada raised their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Finally, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

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).