Pictet Asset Management Ltd. purchased a new stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the second quarter, Holdings Channel reports. The fund purchased 253,576 shares of the oil and gas producer’s stock, valued at approximately $7,319,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Canadian Natural Resources Limited by 5.5% in the first quarter. Vanguard Group Inc. now owns 25,644,738 shares of the oil and gas producer’s stock valued at $840,890,000 after buying an additional 1,347,742 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Canadian Natural Resources Limited by 0.6% in the second quarter. TD Asset Management Inc. now owns 22,073,306 shares of the oil and gas producer’s stock valued at $636,007,000 after buying an additional 136,364 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Canadian Natural Resources Limited by 3.8% in the first quarter. Wellington Management Group LLP now owns 19,412,912 shares of the oil and gas producer’s stock valued at $636,256,000 after buying an additional 703,575 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Canadian Natural Resources Limited by 11.9% in the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock valued at $482,767,000 after buying an additional 1,780,934 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Canadian Natural Resources Limited by 11.5% in the first quarter. Great West Life Assurance Co. Can now owns 8,863,863 shares of the oil and gas producer’s stock valued at $290,083,000 after buying an additional 913,220 shares during the last quarter. 60.27% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Limited (NYSE CNQ) opened at 30.82 on Wednesday. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 27.77 and a beta of 1.48. The firm’s 50-day moving average is $30.15 and its 200-day moving average is $30.65.

Canadian Natural Resources Limited declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 17th that permits the company to repurchase 27,930,000 shares. This repurchase authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.2212 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.87%. This is an increase from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. Canadian Natural Resources Limited’s payout ratio is currently 78.43%.

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CNQ has been the subject of several research reports. National Bank Financial initiated coverage on shares of Canadian Natural Resources Limited in a research report on Tuesday, June 27th. They issued an “outperform” rating for the company. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $36.00 target price on shares of Canadian Natural Resources Limited in a research report on Thursday, June 22nd. ValuEngine raised shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Canadian Natural Resources Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, 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 for the company in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $45.50.

Canadian Natural Resources Limited Company 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.

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

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