Pictet Asset Management Holding SA Has $33.47 Million Position in Canadian Natural Resources Limited $CNQ

Pictet Asset Management Holding SA trimmed its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.6% in the first quarter, HoldingsChannel reports. The firm owned 688,249 shares of the oil and gas producer’s stock after selling 18,083 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Canadian Natural Resources were worth $33,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors lifted its holdings in Canadian Natural Resources by 31.5% during the 4th quarter. Capital Research Global Investors now owns 146,331,336 shares of the oil and gas producer’s stock worth $4,956,204,000 after purchasing an additional 35,067,143 shares during the last quarter. Vanguard Group Inc. raised its holdings in Canadian Natural Resources by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 93,305,198 shares of the oil and gas producer’s stock valued at $3,160,340,000 after acquiring an additional 818,809 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Canadian Natural Resources by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 42,745,981 shares of the oil and gas producer’s stock worth $1,446,951,000 after purchasing an additional 1,342,954 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Canadian Natural Resources by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 20,518,621 shares of the oil and gas producer’s stock worth $710,119,000 after purchasing an additional 1,347,844 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Canadian Natural Resources by 1.9% in the fourth quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock valued at $484,344,000 after purchasing an additional 260,746 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $39.52 on Wednesday. The firm’s fifty day moving average price is $45.13 and its two-hundred day moving average price is $42.03. The stock has a market cap of $82.02 billion, a PE ratio of 11.80 and a beta of 0.45. Canadian Natural Resources Limited has a fifty-two week low of $29.30 and a fifty-two week high of $51.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.68 and a current ratio of 0.98.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the prior year, the company earned $1.16 EPS. On average, equities analysts expect that Canadian Natural Resources Limited will post 4.2 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.625 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $2.50 annualized dividend and a yield of 6.3%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 54.03%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Zacks Research lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their target price on Canadian Natural Resources from $61.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, The Goldman Sachs Group boosted their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Canadian Natural Resources Company 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.