Intech Investment Management LLC Sells 40,161 Shares of Canadian Natural Resources Limited $CNQ

Intech Investment Management LLC reduced its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 465,326 shares of the oil and gas producer’s stock after selling 40,161 shares during the quarter. Intech Investment Management LLC’s holdings in Canadian Natural Resources were worth $14,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in shares of Canadian Natural Resources during the 2nd quarter worth $162,575,000. Vanguard Group Inc. raised its stake in Canadian Natural Resources by 3.4% in the 2nd 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 acquiring an additional 3,003,542 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $548,214,000 after purchasing an additional 2,832,155 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Canadian Natural Resources by 10.3% during the second 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 during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Canadian Natural Resources by 4.5% in the second 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 purchasing an additional 2,051,714 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Trading Up 1.3%

Shares of CNQ stock opened at $43.11 on Friday. The company has a market capitalization of $89.74 billion, a PE ratio of 19.08 and a beta of 0.68. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $43.16. The business’s fifty day moving average is $36.40 and its 200 day moving average is $33.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. The Goldman Sachs Group set a $35.00 target price on shares of Canadian Natural Resources and gave the company a “buy” rating in a report on Friday, January 2nd. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Evercore cut Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Finally, Zacks Research lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 19th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.