Manitou Investment Management Ltd. boosted its holdings in shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 711,489 shares of the oil and gas producer’s stock after buying an additional 15,673 shares during the quarter. Canadian Natural Resources makes up about 4.6% of Manitou Investment Management Ltd.’s holdings, making the stock its 11th biggest holding. Manitou Investment Management Ltd.’s holdings in Canadian Natural Resources were worth $18,938,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in Canadian Natural Resources by 212.9% during the third quarter. SG Americas Securities LLC now owns 47,032 shares of the oil and gas producer’s stock worth $1,252,000 after purchasing an additional 32,001 shares during the last quarter. Tibra Equities Europe Ltd bought a new stake in Canadian Natural Resources during the third quarter worth $511,000. Russell Investments Group Ltd. raised its position in Canadian Natural Resources by 0.7% during the third quarter. Russell Investments Group Ltd. now owns 3,490,614 shares of the oil and gas producer’s stock worth $92,966,000 after acquiring an additional 24,522 shares in the last quarter. Beutel Goodman & Co Ltd. raised its position in Canadian Natural Resources by 4.0% during the third quarter. Beutel Goodman & Co Ltd. now owns 24,559,567 shares of the oil and gas producer’s stock worth $37,261,000 after acquiring an additional 941,032 shares in the last quarter. Finally, ARGA Investment Management LP raised its position in Canadian Natural Resources by 2.1% during the third quarter. ARGA Investment Management LP now owns 2,407,695 shares of the oil and gas producer’s stock worth $64,107,000 after acquiring an additional 49,796 shares in the last quarter. 65.39% of the stock is owned by institutional investors.
Several analysts have issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $40.00 price target on shares of Canadian Natural Resources in a research report on Friday. Goldman Sachs Group set a $29.00 price target on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research report on Friday, September 27th. ValuEngine raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Co lowered shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Canadian Natural Resources from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.92.
Shares of CNQ traded down $0.14 during trading hours on Friday, hitting $27.94. The company had a trading volume of 1,697,260 shares, compared to its average volume of 2,733,854. Canadian Natural Resources Ltd has a 12 month low of $21.85 and a 12 month high of $31.77. The firm has a market cap of $31.35 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.74 and a beta of 1.16. The business has a fifty day moving average of $26.00 and a 200-day moving average of $26.19. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.44. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm earned $1.11 earnings per share. On average, equities analysts expect that Canadian Natural Resources Ltd will post 2.35 EPS for the current fiscal year.
Canadian Natural Resources Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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