Dana Investment Advisors Inc. Takes Position in Canadian Natural Resources Limited $CNQ

Dana Investment Advisors Inc. bought a new position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,970 shares of the oil and gas producer’s stock, valued at approximately $510,000.

Several other large investors have also recently bought and sold shares of CNQ. EverSource Wealth Advisors LLC grew its position in Canadian Natural Resources by 9.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock worth $158,000 after purchasing an additional 426 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Canadian Natural Resources by 21.0% in the third quarter. Bleakley Financial Group LLC now owns 48,912 shares of the oil and gas producer’s stock valued at $1,563,000 after buying an additional 8,480 shares during the period. Citigroup Inc. lifted its stake in shares of Canadian Natural Resources by 65.2% in the third quarter. Citigroup Inc. now owns 1,568,652 shares of the oil and gas producer’s stock valued at $50,169,000 after buying an additional 619,008 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in Canadian Natural Resources during the third quarter worth about $433,000. Finally, Goehring & Rozencwajg Associates LLC increased its stake in Canadian Natural Resources by 78.9% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 1,004,981 shares of the oil and gas producer’s stock valued at $32,178,000 after acquiring an additional 443,339 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $43.73 on Friday. Canadian Natural Resources Limited has a 52-week low of $24.65 and a 52-week high of $44.04. 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 fifty day moving average price of $36.64 and a two-hundred day moving average price of $33.57. The firm has a market capitalization of $91.04 billion, a P/E ratio of 19.35 and a beta of 0.68.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNQ. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. 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 lowered shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Finally, Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus target price 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.