Canadian Natural Resources Limited $CNQ Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,047,793 shares of the oil and gas producer’s stock after selling 44,844 shares during the quarter. JPMorgan Chase & Co. owned 0.67% of Canadian Natural Resources worth $448,967,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Canadian Natural Resources by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock valued at $2,852,024,000 after purchasing an additional 3,003,542 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Canadian Natural Resources by 4.5% during the second quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock valued at $1,505,303,000 after acquiring an additional 2,051,714 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Canadian Natural Resources by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after acquiring an additional 2,546,233 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Canadian Natural Resources by 19.8% during the second quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after acquiring an additional 2,832,155 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Canadian Natural Resources by 2.0% in the second quarter. Legal & General Group Plc now owns 7,912,159 shares of the oil and gas producer’s stock worth $248,195,000 after acquiring an additional 156,291 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Canadian Natural Resources Trading Up 2.8%

Canadian Natural Resources stock opened at $41.73 on Thursday. The firm has a 50-day moving average price of $35.15 and a two-hundred day moving average price of $33.00. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $41.87. The firm has a market capitalization of $86.87 billion, a price-to-earnings ratio of 18.46 and a beta of 0.68. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

About Canadian Natural Resources

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.