Envestnet Asset Management Inc. trimmed its stake in Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 57.9% in the third quarter, HoldingsChannel.com reports. The fund owned 47,606 shares of the oil and gas producer’s stock after selling 65,571 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Canadian Natural Resources were worth $1,268,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Canadian Natural Resources by 10.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,292,920 shares of the oil and gas producer’s stock worth $196,690,000 after acquiring an additional 666,731 shares during the last quarter. National Pension Service acquired a new position in shares of Canadian Natural Resources in the second quarter worth $55,410,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Canadian Natural Resources by 711.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,400,266 shares of the oil and gas producer’s stock worth $37,764,000 after acquiring an additional 1,227,685 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Canadian Natural Resources by 92.6% in the second quarter. Wells Fargo & Company MN now owns 271,925 shares of the oil and gas producer’s stock worth $7,334,000 after acquiring an additional 130,737 shares during the last quarter. Finally, Caymus Capital Partners L.P. acquired a new position in shares of Canadian Natural Resources in the second quarter worth $12,869,000. 65.39% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on CNQ shares. National Bank Financial cut Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut their price target on Canadian Natural Resources from $45.00 to $42.00 and set a “buy” rating for the company in a report on Friday, October 18th. Wells Fargo & Co cut Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a report on Friday, September 6th. Zacks Investment Research cut Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Monday, July 22nd. Finally, CIBC set a $46.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.26.
Canadian Natural Resources stock opened at $25.89 on Thursday. The firm has a market capitalization of $31.52 billion, a P/E ratio of 13.39, a PEG ratio of 1.74 and a beta of 1.16. The stock has a fifty day moving average price of $25.97 and a 200 day moving average price of $26.22. Canadian Natural Resources Ltd has a 52 week low of $21.85 and a 52 week high of $31.77. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.57.
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.
See Also: What defines an oversold asset?
Want to see what other hedge funds are holding CNQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ).
Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.