Pictet Asset Management Holding SA Has $21.26 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Pictet Asset Management Holding SA lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 688,803 shares of the oil and gas producer’s stock after acquiring an additional 5,976 shares during the period. Pictet Asset Management Holding SA’s holdings in Canadian Natural Resources were worth $21,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new position in shares of Canadian Natural Resources in the 4th quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in Canadian Natural Resources in the fourth quarter worth about $25,000. Continuum Advisory LLC lifted its stake in Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 490 shares during the period. Sandy Spring Bank acquired a new stake in Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $31,000. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $30.79 on Tuesday. Canadian Natural Resources Limited has a 12-month low of $25.62 and a 12-month high of $41.29. The stock has a 50-day simple moving average of $29.98 and a 200 day simple moving average of $32.12. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $64.68 billion, a price-to-earnings ratio of 11.96 and a beta of 1.48.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders 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 dividend yield of 5.35%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNQ. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Tudor Pickering lowered shares of 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 report on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.00.

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).