Mackenzie Financial Corp raised its stake in Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) by 64.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,423,026 shares of the oil and gas producer’s stock after buying an additional 4,080,120 shares during the quarter. Canadian Natural Resource comprises approximately 0.9% of Mackenzie Financial Corp’s investment portfolio, making the stock its 22nd biggest holding. Mackenzie Financial Corp’s holdings in Canadian Natural Resource were worth $372,310,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Calton & Associates Inc. bought a new position in Canadian Natural Resource in the fourth quarter valued at approximately $178,000. Lucas Capital Management bought a new position in Canadian Natural Resource in the third quarter valued at approximately $203,000. Eqis Capital Management Inc. bought a new position in Canadian Natural Resource in the fourth quarter valued at approximately $205,000. Cubist Systematic Strategies LLC lifted its stake in Canadian Natural Resource by 1,129.0% in the third quarter. Cubist Systematic Strategies LLC now owns 6,145 shares of the oil and gas producer’s stock valued at $206,000 after buying an additional 5,645 shares in the last quarter. Finally, Royal Bank of Scotland Group PLC bought a new stake in shares of Canadian Natural Resource in the fourth quarter worth $210,000. 59.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the stock. Zacks Investment Research lowered shares of Canadian Natural Resource from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Wells Fargo & Co lowered shares of Canadian Natural Resource from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th. Morgan Stanley boosted their price objective on shares of Canadian Natural Resource from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. AltaCorp Capital reissued a “buy” rating and issued a $52.00 price objective on shares of Canadian Natural Resource in a research report on Monday, January 15th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $53.00 price objective on shares of Canadian Natural Resource in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Canadian Natural Resource currently has a consensus rating of “Buy” and a consensus price target of $47.71.
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Canadian Natural Resource Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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