JCIC Asset Management Inc. Increases Holdings in Canadian Natural Resources Ltd (CNQ)

JCIC Asset Management Inc. raised its stake in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,144 shares of the oil and gas producer’s stock after buying an additional 15,430 shares during the quarter. Canadian Natural Resources comprises about 2.4% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. JCIC Asset Management Inc.’s holdings in Canadian Natural Resources were worth $5,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. IFP Advisors Inc raised its stake in Canadian Natural Resources by 71.7% during the fourth quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 435 shares during the period. Bremer Trust National Association acquired a new stake in Canadian Natural Resources during the 4th quarter valued at $28,000. Worth Venture Partners LLC acquired a new position in Canadian Natural Resources during the 3rd quarter worth $131,000. Tower Research Capital LLC TRC grew its holdings in Canadian Natural Resources by 19,853.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock worth $197,000 after acquiring an additional 5,956 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Canadian Natural Resources by 7.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,183 shares of the oil and gas producer’s stock worth $142,000 after acquiring an additional 454 shares in the last quarter. 67.05% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on CNQ shares. Royal Bank of Canada restated an “average” rating and issued a $45.00 price target on shares of Canadian Natural Resources in a research report on Monday, January 7th. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price objective on shares of Canadian Natural Resources in a research report on Monday, January 7th. Tudor Pickering upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Credit Suisse Group began coverage on shares of Canadian Natural Resources in a research report on Monday, January 28th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Morgan Stanley restated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, January 29th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Canadian Natural Resources has a consensus rating of “Buy” and an average price target of $42.20.

Shares of Canadian Natural Resources stock opened at $28.11 on Friday. Canadian Natural Resources Ltd has a 1-year low of $21.85 and a 1-year high of $38.20. The firm has a market capitalization of $33.67 billion, a PE ratio of 13.07, a PEG ratio of 2.89 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.63 and a debt-to-equity ratio of 0.61.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, March 7th. The oil and gas producer reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.21). Canadian Natural Resources had a return on equity of 9.62% and a net margin of 11.69%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $3.99 billion. As a group, analysts anticipate that Canadian Natural Resources Ltd will post 1.73 EPS for the current year.

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Canadian Natural Resources Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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

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