Russell Investments Group Ltd. Cuts Stake in Canadian Natural Resources Limited (NYSE:CNQ)


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Russell Investments Group Ltd. lessened its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 789,362 shares of the oil and gas producer’s stock after selling 44,809 shares during the period. Russell Investments Group Ltd.’s holdings in Canadian Natural Resources were worth $19,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of CNQ. Cullen Frost Bankers Inc. purchased a new position in Canadian Natural Resources in the third quarter valued at about $43,000. Eudaimonia Partners LLC purchased a new position in Canadian Natural Resources in the third quarter valued at about $64,000. Signaturefd LLC grew its stake in Canadian Natural Resources by 20.1% in the third quarter. Signaturefd LLC now owns 5,319 shares of the oil and gas producer’s stock valued at $85,000 after purchasing an additional 890 shares during the last quarter. Altfest L J & Co. Inc. purchased a new position in Canadian Natural Resources in the third quarter valued at about $170,000. Finally, Van ECK Associates Corp grew its stake in Canadian Natural Resources by 18.7% in the third quarter. Van ECK Associates Corp now owns 10,740 shares of the oil and gas producer’s stock valued at $172,000 after purchasing an additional 1,689 shares during the last quarter. Institutional investors own 66.50% of the company’s stock.

Canadian Natural Resources stock opened at $28.61 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.97 and a debt-to-equity ratio of 0.65. Canadian Natural Resources Limited has a 52 week low of $6.71 and a 52 week high of $29.06. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of -79.47 and a beta of 1.90. The stock has a 50-day moving average price of $25.49 and a 200 day moving average price of $21.37.

Several research firms have issued reports on CNQ. The Goldman Sachs Group lowered Canadian Natural Resources from a “buy” rating to a “neutral” rating and lifted their target price for the company from $27.00 to $28.00 in a research note on Wednesday, January 13th. Credit Suisse Group raised their price target on Canadian Natural Resources from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. National Bank Financial reissued an “outperform” rating on shares of Canadian Natural Resources in a report on Wednesday, January 6th. Scotiabank raised their price target on Canadian Natural Resources from $33.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, January 14th. Finally, Wells Fargo & Company raised Canadian Natural Resources from an “underweight” rating to an “equal weight” rating in a report on Tuesday, December 15th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Canadian Natural Resources presently has a consensus rating of “Buy” and an average price target of $35.84.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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