Canadian Natural Resources Limited (NYSE:CNQ) Stake Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 institutional investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter valued at about $25,000. Lee Danner & Bass Inc. acquired a new stake in Canadian Natural Resources in the fourth quarter valued at approximately $25,000. Continuum Advisory LLC grew its position in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares in the last quarter. Sandy Spring Bank acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth $31,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Canadian Natural Resources during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CNQ shares. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research report on Friday, March 7th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.00.

Canadian Natural Resources Stock Up 0.8 %

Shares of CNQ stock opened at $30.79 on Tuesday. The stock has a 50 day moving average of $29.98 and a 200-day moving average of $32.12. The firm has a market cap of $64.68 billion, a PE ratio of 11.96 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 12 month low of $25.62 and a 12 month high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a $0.4117 dividend. 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. This represents a $1.65 dividend on an annualized basis and a yield of 5.35%. Canadian Natural Resources’s dividend payout ratio is 77.88%.

Canadian Natural Resources 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).