Goehring & Rozencwajg Associates LLC Purchases 443,339 Shares of Canadian Natural Resources Limited $CNQ

Goehring & Rozencwajg Associates LLC lifted its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 78.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,004,981 shares of the oil and gas producer’s stock after purchasing an additional 443,339 shares during the quarter. Canadian Natural Resources accounts for approximately 3.9% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 10th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Canadian Natural Resources were worth $32,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CNQ. Tacita Capital Inc boosted its position in Canadian Natural Resources by 6.1% in the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after buying an additional 330 shares in the last quarter. Haven Private LLC raised its stake in shares of Canadian Natural Resources by 3.4% in the second quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock valued at $365,000 after acquiring an additional 383 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Canadian Natural Resources by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after acquiring an additional 387 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Canadian Natural Resources by 2.2% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock worth $572,000 after acquiring an additional 390 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in Canadian Natural Resources by 5.7% during the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 2.0%

Shares of CNQ opened at $42.51 on Friday. The stock’s fifty day simple moving average is $35.34 and its 200-day simple moving average is $33.06. The firm has a market capitalization of $88.48 billion, a PE ratio of 18.81 and a beta of 0.68. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $43.15. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CNQ shares. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the company a “buy” rating in a research report on Friday, January 2nd. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Wall Street Zen upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.