Waterfront Wealth Inc. Buys 520 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Waterfront Wealth Inc. grew its stake in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,132 shares of the oil and gas producer’s stock after acquiring an additional 520 shares during the quarter. Waterfront Wealth Inc.’s holdings in Canadian Natural Resources were worth $930,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Holocene Advisors LP bought a new position in Canadian Natural Resources in the 3rd quarter worth about $13,700,000. SG Americas Securities LLC grew its holdings in shares of Canadian Natural Resources by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after buying an additional 17,694 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Canadian Natural Resources by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock valued at $746,025,000 after acquiring an additional 1,270,945 shares in the last quarter. Canoe Financial LP raised its holdings in Canadian Natural Resources by 226.0% in the 3rd quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock worth $51,469,000 after acquiring an additional 1,074,199 shares during the last quarter. Finally, Baskin Financial Services Inc. lifted its position in Canadian Natural Resources by 1.1% in the 4th quarter. Baskin Financial Services Inc. now owns 996,151 shares of the oil and gas producer’s stock valued at $30,736,000 after acquiring an additional 10,871 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CNQ. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a report on Tuesday. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of “Hold” and an average target price of $62.00.

Canadian Natural Resources Stock Performance

CNQ stock opened at $29.98 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1 year low of $28.65 and a 1 year high of $41.29. The company has a market cap of $63.01 billion, a P/E ratio of 11.64 and a beta of 1.45. The stock’s fifty day moving average price is $30.87 and its 200-day moving average price is $33.22.

Canadian Natural Resources Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).