Bank of New York Mellon Corp raised its position in shares of Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 87.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,437,771 shares of the oil and gas producer's stock after purchasing an additional 2,064,492 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of Canadian Natural Resources worth $136,994,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC boosted its position in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 490 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $32,000. Coastline Trust Co acquired a new stake in shares of Canadian Natural Resources in the third quarter worth $33,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Canadian Natural Resources in the fourth quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Canadian Natural Resources during the third quarter valued at $37,000. 74.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CNQ has been the topic of several analyst reports. Tudor Pickering downgraded Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $62.00 price target on shares of Canadian Natural Resources in a research report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of "Hold" and an average price target of $62.00.
Check Out Our Latest Report on CNQ
Canadian Natural Resources Price Performance
Shares of Canadian Natural Resources stock traded up $0.15 on Tuesday, hitting $26.87. The company's stock had a trading volume of 6,916,505 shares, compared to its average volume of 6,588,646. The company has a market capitalization of $56.47 billion, a price-to-earnings ratio of 10.45 and a beta of 1.45. Canadian Natural Resources Limited has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a fifty day moving average price of $30.66 and a 200-day moving average price of $32.91.
Canadian Natural Resources Company Profile
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Free Report)
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).
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