Vanguard Group Inc. Has $2.96 Billion Position in Canadian Natural Resources Limited $CNQ

Vanguard Group Inc. increased its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,486,389 shares of the oil and gas producer’s stock after buying an additional 1,744,290 shares during the period. Vanguard Group Inc. owned about 4.44% of Canadian Natural Resources worth $2,957,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management acquired a new position in shares of Canadian Natural Resources during the second quarter worth $162,575,000. Geode Capital Management LLC raised its position in Canadian Natural Resources by 19.8% during the 2nd quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after purchasing an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Canadian Natural Resources by 10.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock worth $855,414,000 after buying an additional 2,546,233 shares during the period. Fisher Asset Management LLC grew its position in shares of Canadian Natural Resources by 4.5% in the 2nd 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 buying an additional 2,051,714 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in shares of Canadian Natural Resources by 14.8% in the second quarter. Scotia Capital Inc. now owns 7,129,824 shares of the oil and gas producer’s stock valued at $223,920,000 after buying an additional 918,291 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $41.73 on Thursday. The company has a fifty day moving average of $35.15 and a 200-day moving average of $33.00. The firm has a market capitalization of $86.87 billion, a P/E 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. Canadian Natural Resources Limited has a twelve month low of $24.65 and a twelve month high of $41.87.

Wall Street Analyst Weigh In

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

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.