Tower View Wealth Management LLC Sells 405 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Tower View Wealth Management LLC reduced its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,445 shares of the oil and gas producer’s stock after selling 405 shares during the quarter. Tower View Wealth Management LLC’s holdings in Canadian Natural Resources were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CNQ. Assenagon Asset Management S.A. boosted its position in shares of Canadian Natural Resources by 6,902.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian Natural Resources by 73.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock worth $260,116,000 after buying an additional 3,312,442 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Canadian Natural Resources by 63.5% in the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after buying an additional 3,198,007 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after buying an additional 2,064,492 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Canadian Natural Resources by 3.9% in the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after buying an additional 1,651,452 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNQ. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a report on Tuesday, February 18th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $28.25 on Friday. The company has a market cap of $59.38 billion, a price-to-earnings ratio of 10.97 and a beta of 1.45. The firm’s fifty day moving average is $30.73 and its 200 day moving average is $33.00. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a 52-week low of $27.66 and a 52-week high of $41.29.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).