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

HighTower Advisors LLC reduced its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 13.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CNQ. Picton Mahoney Asset Management bought a new stake in shares of Canadian Natural Resources during the 2nd quarter worth $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 purchasing an additional 3,003,542 shares in the last quarter. Geode Capital Management LLC lifted its stake in Canadian Natural Resources by 19.8% during the second quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after purchasing an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Canadian Natural Resources by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock worth $855,414,000 after purchasing an additional 2,546,233 shares in the last quarter. Finally, Fisher Asset Management LLC lifted 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 buying an additional 2,051,714 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.3%

CNQ opened at $43.11 on Friday. The firm has a market capitalization of $89.74 billion, a price-to-earnings ratio of 19.08 and a beta of 0.68. Canadian Natural Resources Limited has a one year low of $24.65 and a one year high of $43.16. The business has a 50 day simple moving average of $36.40 and a two-hundred day simple moving average of $33.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53.

Wall Street Analyst Weigh In

CNQ has been the topic of several research reports. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. 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. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Finally, The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a report on Friday, January 2nd. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Hold” and a consensus price target 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.