Sprott Inc. Takes Position in Canadian Natural Resources Limited $CNQ

Sprott Inc. acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the third quarter, HoldingsChannel.com reports. The firm acquired 18,194 shares of the oil and gas producer’s stock, valued at approximately $581,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNQ. Addison Advisors LLC boosted its holdings in Canadian Natural Resources by 309.1% in the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 677 shares during the last quarter. St. Johns Investment Management Company LLC acquired a new position in Canadian Natural Resources during the 3rd quarter worth about $32,000. Nisa Investment Advisors LLC boosted its stake 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 valued at $32,000 after purchasing an additional 500 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Canadian Natural Resources by 47.3% in 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 purchasing an additional 528 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Canadian Natural Resources by 3,182.7% in the third 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 in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 0.3%

CNQ stock opened at $44.20 on Wednesday. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $45.85. The company has a fifty day moving average of $37.10 and a 200-day moving average of $33.82. The stock has a market capitalization of $92.14 billion, a PE ratio of 19.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources 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.