Factory Mutual Insurance Co. Increases Position in Canadian Natural Resources Limited $CNQ

Factory Mutual Insurance Co. raised its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 19.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 773,003 shares of the oil and gas producer’s stock after acquiring an additional 123,803 shares during the period. Factory Mutual Insurance Co.’s holdings in Canadian Natural Resources were worth $24,705,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Canadian Natural Resources by 1.9% in the third quarter. Vanguard Group Inc. now owns 92,486,389 shares of the oil and gas producer’s stock valued at $2,957,252,000 after purchasing an additional 1,744,290 shares in the last quarter. Fisher Asset Management LLC grew its holdings 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 buying an additional 2,051,714 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Canadian Natural Resources by 10.3% in the 2nd 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 increased its stake in shares of Canadian Natural Resources by 19.8% in the 2nd quarter. Geode Capital Management LLC now owns 17,146,792 shares of the oil and gas producer’s stock worth $548,214,000 after acquiring an additional 2,832,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Canadian Natural Resources by 2.9% during the 2nd 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 during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of CNQ opened at $42.51 on Friday. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $43.15. The stock has a market cap of $88.48 billion, a PE ratio of 18.81 and a beta of 0.68. The firm has a 50-day simple moving average of $35.34 and a two-hundred day simple moving average of $33.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53.

Wall Street Analysts Forecast Growth

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