Johnson Investment Counsel Inc. Invests $1.59 Million in Canadian Natural Resources Limited $CNQ

Johnson Investment Counsel Inc. acquired a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, Holdings Channel.com reports. The fund acquired 49,850 shares of the oil and gas producer’s stock, valued at approximately $1,593,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its position in Canadian Natural Resources by 5.5% during the third quarter. Oppenheimer & Co. Inc. now owns 51,247 shares of the oil and gas producer’s stock valued at $1,638,000 after purchasing an additional 2,688 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Canadian Natural Resources by 4.6% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 143,212 shares of the oil and gas producer’s stock worth $4,577,000 after purchasing an additional 6,268 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Canadian Natural Resources by 3,182.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 1,655 shares during the last quarter. Wellington Shields Capital Management LLC raised its holdings in shares of Canadian Natural Resources by 14.0% during the 3rd quarter. Wellington Shields Capital Management LLC now owns 16,300 shares of the oil and gas producer’s stock valued at $521,000 after buying an additional 2,000 shares in the last quarter. Finally, Old West Investment Management LLC lifted its position in Canadian Natural Resources by 44.1% in the 3rd quarter. Old West Investment Management LLC now owns 508,591 shares of the oil and gas producer’s stock worth $16,255,000 after buying an additional 155,608 shares during the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 3.9%

Shares of NYSE CNQ opened at $40.61 on Thursday. The firm’s fifty day moving average is $34.49 and its 200 day moving average is $32.68. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $40.74. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The company has a market cap of $84.53 billion, a price-to-earnings ratio of 17.97 and a beta of 0.68.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Evercore cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.50.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.