NewEdge Wealth LLC Increases Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

NewEdge Wealth LLC lifted its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 888,762 shares of the oil and gas producer’s stock after acquiring an additional 67,918 shares during the period. NewEdge Wealth LLC’s holdings in Canadian Natural Resources were worth $27,436,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Canadian Natural Resources by 87.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer’s stock worth $136,994,000 after purchasing an additional 2,064,492 shares during the period. Mainstay Capital Management LLC ADV raised its position in shares of Canadian Natural Resources by 1.5% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 39,250 shares of the oil and gas producer’s stock valued at $1,212,000 after buying an additional 587 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Canadian Natural Resources by 162.7% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 43,071 shares of the oil and gas producer’s stock worth $1,330,000 after buying an additional 26,673 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Canadian Natural Resources by 0.8% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 229,729 shares of the oil and gas producer’s stock worth $7,026,000 after acquiring an additional 1,885 shares during the last quarter. Finally, Investment Management Associates Inc. ADV grew its stake in Canadian Natural Resources by 0.4% during the fourth quarter. Investment Management Associates Inc. ADV now owns 246,288 shares of the oil and gas producer’s stock valued at $7,603,000 after acquiring an additional 1,061 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $28.64 on Thursday. Canadian Natural Resources Limited has a 52-week low of $28.37 and a 52-week 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. The firm’s fifty day moving average is $30.78 and its 200 day moving average is $33.11. The company has a market cap of $60.20 billion, a price-to-earnings ratio of 11.12 and a beta of 1.45.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.00.

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).