Canadian Natural Resources Limited $CNQ Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 15.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,342 shares of the oil and gas producer’s stock after purchasing an additional 24,302 shares during the quarter. Metis Global Partners LLC’s holdings in Canadian Natural Resources were worth $5,671,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Picton Mahoney Asset Management acquired a new stake in shares of Canadian Natural Resources during the 2nd quarter worth about $162,575,000. Vanguard Group Inc. boosted its stake in Canadian Natural Resources by 3.4% during the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock worth $2,852,024,000 after buying an additional 3,003,542 shares during the period. Geode Capital Management LLC increased its position in shares of Canadian Natural Resources by 19.8% during the second quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock valued at $548,214,000 after acquiring an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Canadian Natural Resources by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after acquiring an additional 2,546,233 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake 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 acquiring an additional 2,051,714 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

CNQ stock opened at $40.67 on Friday. The business’s 50-day moving average is $34.73 and its two-hundred day moving average is $32.79. 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 capitalization of $84.65 billion, a P/E ratio of 17.99 and a beta of 0.68. Canadian Natural Resources Limited has a 1 year low of $24.65 and a 1 year high of $40.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group set a $35.00 price objective on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. 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 company. According to data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average price target 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.