NewEdge Wealth LLC Buys 67,918 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

NewEdge Wealth LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ - Free Report) TSE: CNQ by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,762 shares of the oil and gas producer's stock after purchasing an additional 67,918 shares during the quarter. NewEdge Wealth LLC's holdings in Canadian Natural Resources were worth $27,436,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CNQ. International Assets Investment Management LLC acquired a new position in Canadian Natural Resources in the third quarter worth approximately $7,460,000. Arkadios Wealth Advisors acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth $551,000. Autumn Glory Partners LLC bought a new position in shares of Canadian Natural Resources during the 3rd quarter valued at $226,000. Fidelis Capital Partners LLC lifted its stake in shares of Canadian Natural Resources by 134.9% in the 3rd quarter. Fidelis Capital Partners LLC now owns 24,139 shares of the oil and gas producer's stock valued at $848,000 after purchasing an additional 13,863 shares during the last quarter. Finally, Galibier Capital Management Ltd. boosted its holdings in Canadian Natural Resources by 23.2% in the third quarter. Galibier Capital Management Ltd. now owns 777,962 shares of the oil and gas producer's stock worth $25,862,000 after purchasing an additional 146,676 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CNQ shares. Tudor Pickering cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $62.00 price objective on shares of Canadian Natural Resources in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources has an average rating of "Hold" and a consensus price target of $62.00.

Canadian Natural Resources Price Performance

NYSE:CNQ traded down $0.06 during mid-day trading on Friday, reaching $28.25. 6,733,951 shares of the company were exchanged, compared to its average volume of 6,528,154. Canadian Natural Resources Limited has a 12 month low of $27.66 and a 12 month high of $41.29. The stock has a market cap of $59.38 billion, a PE ratio of 10.97 and a beta of 1.45. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $30.73 and a 200 day moving average of $33.00.

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).