JPMorgan Chase & Co. Has $448.97 Million Stake in Canadian Natural Resources Limited $CNQ

JPMorgan Chase & Co. decreased its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.3% during the third quarter, HoldingsChannel.com reports. The fund owned 14,047,793 shares of the oil and gas producer’s stock after selling 44,844 shares during the period. JPMorgan Chase & Co.’s holdings in Canadian Natural Resources were worth $448,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc lifted its stake in shares of Canadian Natural Resources by 6.1% in the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after buying an additional 330 shares during the last quarter. Haven Private LLC raised its holdings in Canadian Natural Resources by 3.4% in the 2nd quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock worth $365,000 after acquiring an additional 383 shares during the period. King Luther Capital Management Corp lifted its position in Canadian Natural Resources by 1.2% during the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after acquiring an additional 387 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Canadian Natural Resources by 2.2% during the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after acquiring an additional 390 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in shares of Canadian Natural Resources by 5.7% in the second quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 434 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNQ. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Evercore cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a report on Friday, January 2nd. Finally, Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of $48.50.

Canadian Natural Resources Stock Up 2.8%

Shares of CNQ opened at $41.73 on Thursday. The business’s fifty day moving average price is $35.15 and its two-hundred day moving average price is $33.00. The firm has a market capitalization of $86.87 billion, a price-to-earnings ratio of 18.46 and a beta of 0.68. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $41.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86.

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.