HighTower Advisors LLC Sells 14,440 Shares of Canadian Natural Resources Limited $CNQ

HighTower Advisors LLC cut its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 95,310 shares of the oil and gas producer’s stock after selling 14,440 shares during the quarter. HighTower Advisors LLC’s holdings in Canadian Natural Resources were worth $3,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC raised its position in shares of Canadian Natural Resources by 309.1% in the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 677 shares in the last quarter. St. Johns Investment Management Company LLC purchased a new stake in Canadian Natural Resources in the third quarter worth $32,000. Nisa Investment Advisors LLC raised its holdings in Canadian Natural Resources by 100.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock valued at $51,000 after buying an additional 528 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings 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 buying an additional 1,655 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analysts Set New Price Targets

CNQ has been the subject of several research reports. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note 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. The Goldman Sachs Group set a $35.00 price target on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Wall Street Zen upgraded Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Evercore cut 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.50.

Canadian Natural Resources Stock Performance

CNQ stock opened at $43.11 on Friday. The stock’s 50 day simple moving average is $36.40 and its 200 day simple moving average is $33.47. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $43.16. The stock has a market capitalization of $89.74 billion, a PE ratio of 19.08 and a beta of 0.68.

Canadian Natural Resources 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.