Canadian Natural Resources Limited (CNQ) Stake Increased by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. increased its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 108.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 529,559 shares of the oil and gas producer’s stock after purchasing an additional 275,983 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Canadian Natural Resources Limited were worth $17,735,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. First Manhattan Co. raised its holdings in shares of Canadian Natural Resources Limited by 2.3% in the 3rd quarter. First Manhattan Co. now owns 3,062,687 shares of the oil and gas producer’s stock valued at $102,569,000 after purchasing an additional 67,961 shares during the period. Highstreet Asset Management Inc. raised its holdings in shares of Canadian Natural Resources Limited by 1.6% in the 3rd quarter. Highstreet Asset Management Inc. now owns 354,327 shares of the oil and gas producer’s stock valued at $11,867,000 after purchasing an additional 5,680 shares during the period. Korea Investment CORP raised its holdings in shares of Canadian Natural Resources Limited by 3.4% in the 3rd quarter. Korea Investment CORP now owns 805,050 shares of the oil and gas producer’s stock valued at $26,900,000 after purchasing an additional 26,584 shares during the period. Aperio Group LLC raised its holdings in shares of Canadian Natural Resources Limited by 4.9% in the 3rd quarter. Aperio Group LLC now owns 272,656 shares of the oil and gas producer’s stock valued at $9,131,000 after purchasing an additional 12,804 shares during the period. Finally, Marathon Asset Management LLP raised its holdings in shares of Canadian Natural Resources Limited by 2.5% in the 3rd quarter. Marathon Asset Management LLP now owns 3,860,481 shares of the oil and gas producer’s stock valued at $129,806,000 after purchasing an additional 93,285 shares during the period. 58.64% of the stock is currently owned by institutional investors.

Canadian Natural Resources Limited (CNQ) opened at $34.42 on Wednesday. Canadian Natural Resources Limited has a 52-week low of $27.52 and a 52-week high of $36.79. The stock has a market cap of $43,926.13, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 8.66 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.67.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Tuesday, December 12th will be given a dividend of $0.214 per share. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.49%. Canadian Natural Resources Limited’s payout ratio is presently 52.07%.

A number of brokerages have recently issued reports on CNQ. Zacks Investment Research raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “hold” rating in a report on Thursday, August 17th. Citigroup Inc. cut shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and dropped their target price for the company from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Morgan Stanley raised shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a report on Wednesday, July 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $53.00 target price on shares of Canadian Natural Resources Limited in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.90.

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Canadian Natural Resources Limited Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Institutional Ownership by Quarter for Canadian Natural Resources Limited (NYSE:CNQ)

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