Dakota Wealth Management Reduces Stock Position in Canadian Natural Resources Limited (NYSE:CNQ)

Dakota Wealth Management lessened its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 20.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,429 shares of the oil and gas producer’s stock after selling 34,678 shares during the period. Dakota Wealth Management’s holdings in Canadian Natural Resources were worth $4,119,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNQ. Mackenzie Financial Corp increased its stake in shares of Canadian Natural Resources by 90.3% during the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after buying an additional 14,246,978 shares during the period. The Manufacturers Life Insurance Company increased its position in Canadian Natural Resources by 102.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,084,649 shares of the oil and gas producer’s stock valued at $963,348,000 after purchasing an additional 13,694,741 shares during the period. Toronto Dominion Bank increased its position in Canadian Natural Resources by 254.7% during the 2nd quarter. Toronto Dominion Bank now owns 18,501,417 shares of the oil and gas producer’s stock valued at $658,650,000 after purchasing an additional 13,284,985 shares during the period. Legal & General Group Plc raised its holdings in Canadian Natural Resources by 110.5% in the 2nd quarter. Legal & General Group Plc now owns 12,285,093 shares of the oil and gas producer’s stock worth $437,507,000 after purchasing an additional 6,449,815 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Canadian Natural Resources by 123.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,920,000 shares of the oil and gas producer’s stock worth $317,766,000 after purchasing an additional 4,920,000 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Canadian Natural Resources Trading Down 1.0 %

NYSE CNQ opened at $31.54 on Thursday. The firm has a market capitalization of $66.34 billion, a PE ratio of 12.25 and a beta of 1.46. The stock’s 50 day moving average is $32.08 and its 200 day moving average is $33.92. Canadian Natural Resources Limited has a twelve month low of $29.23 and a twelve month high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The firm had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. During the same quarter in the previous year, the business posted $0.96 EPS. Research analysts forecast that Canadian Natural Resources Limited will post 2.44 earnings per share for the current fiscal year.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).