35,800 Shares in Canadian Natural Resources Limited $CNQ Bought by SCP Investment LP

SCP Investment LP bought a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,800 shares of the oil and gas producer’s stock, valued at approximately $1,144,000. Canadian Natural Resources accounts for about 0.9% of SCP Investment LP’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in shares of Canadian Natural Resources in the 2nd quarter valued at about $162,575,000. Vanguard Group Inc. raised its position in Canadian Natural Resources by 3.4% during the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock valued at $2,852,024,000 after acquiring an additional 3,003,542 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Canadian Natural Resources by 19.8% in the second quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock valued at $548,214,000 after acquiring an additional 2,832,155 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Canadian Natural Resources by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after acquiring an additional 2,546,233 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Canadian Natural Resources by 4.5% in the 2nd quarter. Fisher Asset Management LLC now owns 47,939,585 shares of the oil and gas producer’s stock worth $1,505,303,000 after purchasing an additional 2,051,714 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ opened at $40.55 on Wednesday. The firm’s fifty day simple moving average is $34.99 and its two-hundred day simple moving average is $32.94. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $41.09. The company has a market cap of $84.41 billion, a price-to-earnings ratio of 17.94 and a beta of 0.68. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group set a $35.00 target price on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Friday, January 2nd. Desjardins lowered 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 report on Friday, December 19th. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Evercore lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.50.

Canadian Natural Resources Company Profile

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.