HighTower Advisors LLC Reduces Stock Position in Canadian Natural Resources Limited $CNQ

HighTower Advisors LLC cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,310 shares of the oil and gas producer’s stock after selling 14,440 shares during the quarter. HighTower Advisors LLC’s holdings in Canadian Natural Resources were worth $3,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Canadian Natural Resources by 3.4% in 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 acquiring an additional 3,003,542 shares during the period. Envestnet Asset Management Inc. boosted its position in Canadian Natural Resources by 2.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,616,219 shares of the oil and gas producer’s stock worth $51,654,000 after purchasing an additional 43,356 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Canadian Natural Resources by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,716,038 shares of the oil and gas producer’s stock valued at $54,883,000 after purchasing an additional 33,609 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Canadian Natural Resources by 9.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 89,973 shares of the oil and gas producer’s stock worth $2,825,000 after purchasing an additional 8,078 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in shares of Canadian Natural Resources by 9.1% in the third quarter. Intact Investment Management Inc. now owns 1,718,220 shares of the oil and gas producer’s stock worth $54,946,000 after buying an additional 143,550 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Up 1.3%

NYSE CNQ opened at $43.11 on Friday. The stock’s 50 day moving average is $36.40 and its 200 day moving average is $33.47. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $43.16. The stock has a market cap of $89.74 billion, a PE ratio of 19.08 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNQ shares. Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. 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. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.