Canadian Natural Resources Limited $CNQ Position Cut by Picton Mahoney Asset Management

Picton Mahoney Asset Management decreased its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,170,054 shares of the oil and gas producer’s stock after selling 23,446 shares during the quarter. Canadian Natural Resources comprises 1.5% of Picton Mahoney Asset Management’s portfolio, making the stock its 7th biggest holding. Picton Mahoney Asset Management owned about 0.25% of Canadian Natural Resources worth $165,279,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore cut Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research note on Tuesday, January 6th. Zacks Research downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. 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. Desjardins cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.50.

Canadian Natural Resources Price Performance

CNQ opened at $44.20 on Wednesday. The company has a market capitalization of $92.14 billion, a price-to-earnings ratio of 19.56 and a beta of 0.63. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. Canadian Natural Resources Limited has a 12-month low of $24.65 and a 12-month high of $45.85. The business’s fifty day simple moving average is $37.10 and its 200-day simple moving average is $33.82.

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.