Waterfront Wealth Inc. Acquires 520 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Waterfront Wealth Inc. grew its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% in the fourth quarter, HoldingsChannel reports. The fund owned 30,132 shares of the oil and gas producer’s stock after purchasing an additional 520 shares during the quarter. Waterfront Wealth Inc.’s holdings in Canadian Natural Resources were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Holocene Advisors LP purchased a new stake in Canadian Natural Resources in the third quarter worth about $13,700,000. SG Americas Securities LLC increased its holdings in Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock worth $9,151,000 after acquiring an additional 17,694 shares in the last quarter. CIBC Asset Management Inc raised its stake in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after acquiring an additional 1,270,945 shares during the period. Canoe Financial LP lifted its holdings in Canadian Natural Resources by 226.0% during the third quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock valued at $51,469,000 after purchasing an additional 1,074,199 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its position in shares of Canadian Natural Resources by 1.1% in the fourth quarter. Baskin Financial Services Inc. now owns 996,151 shares of the oil and gas producer’s stock worth $30,736,000 after purchasing an additional 10,871 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Canadian Natural Resources Trading Down 2.5 %

Canadian Natural Resources stock opened at $29.98 on Friday. Canadian Natural Resources Limited has a 1 year low of $28.65 and a 1 year high of $41.29. The firm’s 50 day moving average price is $30.87 and its 200-day moving average price is $33.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock has a market cap of $63.01 billion, a P/E ratio of 11.64 and a beta of 1.45.

Canadian Natural Resources Company Profile

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).