Vanguard Group Inc. Has $2.96 Billion Stock Position in Canadian Natural Resources Limited $CNQ

Vanguard Group Inc. raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.9% in the third quarter, HoldingsChannel reports. The fund owned 92,486,389 shares of the oil and gas producer’s stock after purchasing an additional 1,744,290 shares during the quarter. Vanguard Group Inc.’s holdings in Canadian Natural Resources were worth $2,957,252,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC grew 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 valued at $1,505,303,000 after purchasing an additional 2,051,714 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Canadian Natural Resources by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 27,359,777 shares of the oil and gas producer’s stock valued at $855,414,000 after buying an additional 2,546,233 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 valued at $548,214,000 after buying an additional 2,832,155 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Canadian Natural Resources by 2.9% during the second quarter. JPMorgan Chase & Co. now owns 14,092,637 shares of the oil and gas producer’s stock worth $442,509,000 after acquiring an additional 399,945 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Canadian Natural Resources by 2.0% during the second quarter. Legal & General Group Plc now owns 7,912,159 shares of the oil and gas producer’s stock worth $248,195,000 after acquiring an additional 156,291 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

CNQ stock opened at $41.73 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The firm has a market cap of $86.87 billion, a PE ratio of 18.46 and a beta of 0.68. The business has a 50 day moving average of $35.15 and a 200-day moving average of $33.00. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $41.87.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CNQ. The Goldman Sachs Group set a $35.00 price target on shares of Canadian Natural Resources and gave the company a “buy” rating in a research report on Friday, January 2nd. Evercore downgraded Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Canadian Natural Resources Company Profile

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.