CI Investments Inc. lessened its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,408,371 shares of the oil and gas producer’s stock after selling 70,735 shares during the quarter. CI Investments Inc. owned 0.12% of Canadian Natural Resources worth $33,871,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Canadian Natural Resources during the 3rd quarter worth approximately $43,000. Eudaimonia Partners LLC acquired a new stake in Canadian Natural Resources in the third quarter valued at approximately $64,000. Signaturefd LLC grew its position in Canadian Natural Resources by 20.1% in the third quarter. Signaturefd LLC now owns 5,319 shares of the oil and gas producer’s stock valued at $85,000 after acquiring an additional 890 shares in the last quarter. Altfest L J & Co. Inc. acquired a new stake in Canadian Natural Resources in the third quarter valued at approximately $170,000. Finally, Van ECK Associates Corp grew its position in Canadian Natural Resources by 18.7% in the third quarter. Van ECK Associates Corp now owns 10,740 shares of the oil and gas producer’s stock valued at $172,000 after acquiring an additional 1,689 shares in the last quarter. 66.50% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on CNQ shares. Barclays increased their price objective on shares of Canadian Natural Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, January 29th. Wells Fargo & Company raised shares of Canadian Natural Resources from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, December 15th. CIBC increased their price objective on shares of Canadian Natural Resources from $31.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, December 16th. TD Securities increased their target price on Canadian Natural Resources from $26.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, December 10th. Finally, Credit Suisse Group increased their target price on Canadian Natural Resources from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 14th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.84.
Shares of NYSE CNQ opened at $28.61 on Tuesday. The firm has a market capitalization of $33.87 billion, a PE ratio of -79.47 and a beta of 1.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.97 and a quick ratio of 0.71. Canadian Natural Resources Limited has a 1-year low of $6.71 and a 1-year high of $29.06. The business’s fifty day moving average price is $25.49 and its two-hundred day moving average price is $21.37.
About Canadian Natural Resources
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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