Harvest Portfolios Group Inc. Buys 257,765 Shares of Canadian Natural Resources Limited $CNQ

Harvest Portfolios Group Inc. boosted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 197.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 388,352 shares of the oil and gas producer’s stock after purchasing an additional 257,765 shares during the period. Harvest Portfolios Group Inc.’s holdings in Canadian Natural Resources were worth $12,418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Addison Advisors LLC raised its stake in Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 677 shares during the last quarter. St. Johns Investment Management Company LLC purchased a new position in shares of Canadian Natural Resources in the 3rd quarter worth $32,000. Nisa Investment Advisors LLC grew its holdings in shares of Canadian Natural Resources by 100.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 500 shares during the period. Geneos Wealth Management Inc. increased its position in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 528 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Canadian Natural Resources by 3,182.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 1,655 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Performance

CNQ opened at $43.73 on Friday. The company has a 50 day simple moving average of $36.64 and a two-hundred day simple moving average of $33.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53. The firm has a market cap of $91.04 billion, a P/E ratio of 19.35 and a beta of 0.68. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $44.04.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNQ shares. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday, January 2nd. Finally, Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.

Canadian Natural Resources Company Profile

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.