Envestnet Asset Management Inc. Acquires 43,356 Shares of Canadian Natural Resources Limited $CNQ

Envestnet Asset Management Inc. raised its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,616,219 shares of the oil and gas producer’s stock after buying an additional 43,356 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Canadian Natural Resources worth $51,654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CNQ. Jones Financial Companies Lllp raised its stake in Canadian Natural Resources by 32.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 12,821 shares of the oil and gas producer’s stock valued at $419,000 after purchasing an additional 3,108 shares during the last quarter. State of Wyoming grew its position in Canadian Natural Resources by 57.5% during the third quarter. State of Wyoming now owns 12,185 shares of the oil and gas producer’s stock worth $390,000 after buying an additional 4,447 shares in the last quarter. Mediolanum International Funds Ltd increased its position in shares of Canadian Natural Resources by 12.8% during the third quarter. Mediolanum International Funds Ltd now owns 157,846 shares of the oil and gas producer’s stock valued at $5,105,000 after purchasing an additional 17,917 shares during the period. Principal Financial Group Inc. raised its stake in shares of Canadian Natural Resources by 2.0% in the third quarter. Principal Financial Group Inc. now owns 1,716,038 shares of the oil and gas producer’s stock valued at $54,883,000 after purchasing an additional 33,609 shares in the last quarter. Finally, Independent Advisor Alliance raised its stake in shares of Canadian Natural Resources by 29.5% in the third quarter. Independent Advisor Alliance now owns 17,232 shares of the oil and gas producer’s stock valued at $551,000 after purchasing an additional 3,922 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $39.20 on Tuesday. The business’s fifty day moving average is $34.25 and its two-hundred day moving average is $32.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The firm has a market cap of $81.60 billion, a P/E ratio of 17.35 and a beta of 0.68. Canadian Natural Resources Limited has a 52 week low of $24.65 and a 52 week high of $39.66.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Evercore cut shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Wall Street Zen upgraded 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 Canadian Natural Resources and gave the stock a “buy” rating in a report on Friday, January 2nd. Finally, Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price 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.