CenterBook Partners LP Raises Position in Canadian Natural Resources Limited $CNQ

CenterBook Partners LP grew its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 50.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,931 shares of the oil and gas producer’s stock after buying an additional 16,372 shares during the quarter. CenterBook Partners LP’s holdings in Canadian Natural Resources were worth $1,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SCP Investment LP bought a new position in Canadian Natural Resources in the 3rd quarter valued at approximately $1,144,000. Vanguard Group Inc. raised its stake 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 worth $2,957,252,000 after purchasing an additional 1,744,290 shares during the last quarter. Cadence Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 4.7% during the third quarter. Cadence Wealth Management LLC now owns 19,359 shares of the oil and gas producer’s stock valued at $619,000 after purchasing an additional 869 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Canadian Natural Resources by 15.9% during the third quarter. Metis Global Partners LLC now owns 177,342 shares of the oil and gas producer’s stock valued at $5,671,000 after purchasing an additional 24,302 shares in the last quarter. Finally, Tacita Capital Inc boosted its position in shares of Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock valued at $184,000 after buying an additional 330 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Analyst Ratings Changes

CNQ has been the topic of several research analyst reports. 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 research note on Friday, January 2nd. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Finally, Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.

Canadian Natural Resources Trading Up 2.0%

Shares of Canadian Natural Resources stock 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 company’s fifty day simple moving average is $35.34 and its 200-day simple moving average is $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. The stock has a market capitalization of $88.48 billion, a PE ratio of 18.81 and a beta of 0.68.

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.