CIBC Asset Management Inc Has $746.03 Million Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

CIBC Asset Management Inc lifted its stake in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,109,432 shares of the oil and gas producer's stock after acquiring an additional 1,270,945 shares during the period. Canadian Natural Resources accounts for approximately 2.4% of CIBC Asset Management Inc's holdings, making the stock its 8th biggest position. CIBC Asset Management Inc owned approximately 1.15% of Canadian Natural Resources worth $746,025,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CNQ. Continuum Advisory LLC raised its holdings in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 490 shares in the last quarter. R Squared Ltd bought a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $32,000. Coastline Trust Co bought a new stake in shares of Canadian Natural Resources in the 3rd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Canadian Natural Resources in the 4th quarter worth approximately $35,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Canadian Natural Resources in the 3rd quarter worth approximately $37,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada restated an "outperform" rating and set a $62.00 price target on shares of Canadian Natural Resources in a report on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of "Hold" and an average target price of $62.00.

Canadian Natural Resources Stock Up 0.9 %

CNQ traded up $0.27 on Thursday, reaching $30.69. 9,957,929 shares of the company traded hands, compared to its average volume of 6,276,667. The stock's 50 day moving average price is $30.92 and its 200-day moving average price is $33.26. Canadian Natural Resources Limited has a 52-week low of $28.65 and a 52-week high of $41.29. The company has a market cap of $64.52 billion, a price-to-earnings ratio of 11.92 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

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).