Citigroup Inc. Buys 619,008 Shares of Canadian Natural Resources Limited $CNQ

Citigroup Inc. boosted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 65.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,568,652 shares of the oil and gas producer’s stock after acquiring an additional 619,008 shares during the period. Citigroup Inc. owned approximately 0.08% of Canadian Natural Resources worth $50,169,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Addison Advisors LLC grew its holdings in shares of Canadian Natural Resources by 309.1% during the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 677 shares in the last quarter. St. Johns Investment Management Company LLC acquired a new position in shares of Canadian Natural Resources in the third quarter valued at $32,000. Nisa Investment Advisors LLC lifted its position in Canadian Natural Resources by 100.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares during the period. Geneos Wealth Management Inc. boosted its stake in Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 528 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Canadian Natural Resources by 3,182.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 1,655 shares during the period. Institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of analyst reports. Desjardins downgraded 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 research note on Saturday, January 31st. Evercore downgraded Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report 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, The Goldman Sachs Group set a $35.00 target price on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.50.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $42.33 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The firm has a market cap of $88.11 billion, a PE ratio of 18.73 and a beta of 0.68. Canadian Natural Resources Limited has a 12 month low of $24.65 and a 12 month high of $43.15. The company’s 50-day moving average price is $35.73 and its two-hundred day moving average price is $33.25.

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.