Canadian Natural Resources Limited $CNQ Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,887 shares of the oil and gas producer’s stock after selling 13,403 shares during the quarter. Dakota Wealth Management’s holdings in Canadian Natural Resources were worth $2,681,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc boosted its holdings in shares of Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after acquiring an additional 330 shares during the period. Haven Private LLC lifted its position in Canadian Natural Resources by 3.4% in the 2nd quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock valued at $365,000 after purchasing an additional 383 shares during the last quarter. King Luther Capital Management Corp lifted its position in Canadian Natural Resources by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock valued at $1,014,000 after purchasing an additional 387 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in Canadian Natural Resources by 2.2% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after purchasing an additional 390 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Canadian Natural Resources by 9.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock worth $158,000 after purchasing an additional 426 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Canadian Natural Resources Stock Performance

Shares of NYSE CNQ opened at $42.58 on Wednesday. The stock has a fifty day moving average price of $35.95 and a two-hundred day moving average price of $33.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The firm has a market cap of $88.63 billion, a P/E ratio of 18.84 and a beta of 0.68. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $43.15.

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.