Assenagon Asset Management S.A. Raises Position in Canadian Natural Resources Limited (NYSE:CNQ)

Assenagon Asset Management S.A. increased its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 6,902.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,652,855 shares of the oil and gas producer's stock after purchasing an additional 3,600,686 shares during the period. Assenagon Asset Management S.A. owned approximately 0.17% of Canadian Natural Resources worth $112,763,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake 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 valued at $1,447,326,000 after purchasing an additional 1,651,452 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer's stock valued at $1,476,644,000 after acquiring an additional 19,980,902 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer's stock worth $1,127,382,000 after acquiring an additional 16,245,046 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Canadian Natural Resources by 90.3% in the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer's stock worth $1,069,338,000 after acquiring an additional 14,246,978 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Canadian Natural Resources by 5.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer's stock valued at $945,965,000 after purchasing an additional 1,383,478 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Desjardins raised Canadian Natural Resources from a "hold" rating to a "moderate buy" rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

Canadian Natural Resources Price Performance

Shares of CNQ traded down $0.07 during mid-day trading on Wednesday, reaching $31.48. 8,322,576 shares of the company's stock were exchanged, compared to its average volume of 6,827,441. 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 $29.23 and a 52-week high of $41.29. The company has a market cap of $66.21 billion, a price-to-earnings ratio of 12.23 and a beta of 1.46. The company has a 50-day simple moving average of $32.39 and a two-hundred day simple moving average of $34.09.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The firm had revenue of $7.62 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, sell-side analysts predict that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources 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).