Sprott Inc. Takes Position in Canadian Natural Resources Limited $CNQ

Sprott Inc. bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,194 shares of the oil and gas producer’s stock, valued at approximately $581,000.

Several other hedge funds have also bought and sold shares of CNQ. Addison Advisors LLC lifted its stake 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 valued at $28,000 after purchasing an additional 677 shares during the period. Nisa Investment Advisors LLC increased 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 valued at $32,000 after buying an additional 500 shares in the last quarter. St. Johns Investment Management Company LLC purchased a new position in Canadian Natural Resources in the third quarter valued at $32,000. Geneos Wealth Management Inc. raised its position in shares of Canadian Natural Resources by 47.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 528 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake 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 worth $55,000 after acquiring an additional 1,655 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 0.3%

NYSE CNQ opened at $44.20 on Wednesday. The business has a fifty day moving average price of $37.10 and a 200 day moving average price of $33.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The company has a market cap of $92.14 billion, a P/E ratio of 19.56 and a beta of 0.63. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $45.85.

Analyst Upgrades and Downgrades

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