Asahi Life Asset Management CO. LTD. Buys New Holdings in Canadian Natural Resources Limited $CNQ

Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,549 shares of the oil and gas producer’s stock, valued at approximately $433,000.

A number of other large investors also recently modified their holdings of CNQ. Picton Mahoney Asset Management purchased a new stake in shares of Canadian Natural Resources during the 2nd quarter worth about $162,575,000. Vanguard Group Inc. grew its stake in Canadian Natural Resources by 3.4% during the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock worth $2,852,024,000 after buying an additional 3,003,542 shares during the period. Geode Capital Management LLC increased its position in shares of Canadian Natural Resources by 19.8% in the second 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 in the last quarter. The Manufacturers Life Insurance Company increased its position 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 worth $855,414,000 after acquiring an additional 2,546,233 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Canadian Natural Resources by 4.5% during 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 acquiring an additional 2,051,714 shares in the last quarter. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $42.39 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. Canadian Natural Resources Limited has a fifty-two week low of $24.65 and a fifty-two week high of $43.15. The business has a 50 day moving average price of $35.53 and a two-hundred day moving average price of $33.14. The firm has a market cap of $88.25 billion, a PE ratio of 18.76 and a beta of 0.68.

Analyst Upgrades and Downgrades

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

Canadian Natural Resources 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.