Cumberland Partners Ltd Acquires 22,678 Shares of Canadian Natural Resources Limited $CNQ

Cumberland Partners Ltd lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 14.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,625 shares of the oil and gas producer’s stock after acquiring an additional 22,678 shares during the period. Cumberland Partners Ltd’s holdings in Canadian Natural Resources were worth $5,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new position in Canadian Natural Resources in the 2nd quarter valued at about $162,575,000. Vanguard Group Inc. raised its holdings in shares of Canadian Natural Resources by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock worth $2,852,024,000 after purchasing an additional 3,003,542 shares during the period. Geode Capital Management LLC increased its holdings in Canadian Natural Resources by 19.8% in the 2nd quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after acquiring an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Canadian Natural Resources by 10.3% in 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 purchasing an additional 2,546,233 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Canadian Natural Resources by 4.5% during the second 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 buying an additional 2,051,714 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Price Performance

CNQ opened at $41.73 on Thursday. The business’s fifty day simple moving average is $35.15 and its 200-day simple moving average is $33.00. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $41.87. The company has a market capitalization of $86.87 billion, a price-to-earnings ratio of 18.46 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41.

Wall Street Analysts Forecast Growth

CNQ has been the topic of several 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. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. The Goldman Sachs Group set a $35.00 price target on shares of Canadian Natural Resources and gave the company a “buy” rating in a research report on Friday, January 2nd. Finally, Evercore cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note 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. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and a consensus 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.