CIBC Asset Management Inc Increases Stock Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

CIBC Asset Management Inc lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,109,432 shares of the oil and gas producer’s stock after purchasing an additional 1,270,945 shares during the period. Canadian Natural Resources accounts for 2.4% of CIBC Asset Management Inc’s holdings, making the stock its 8th biggest position. CIBC Asset Management Inc’s holdings in Canadian Natural Resources were worth $746,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC increased its holdings in shares of Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the last quarter. Coastline Trust Co acquired a new position in Canadian Natural Resources in the 3rd quarter valued at $33,000. R Squared Ltd acquired a new position in Canadian Natural Resources in the 4th quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new position in Canadian Natural Resources in the 3rd quarter valued at $37,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Canadian Natural Resources in the 4th quarter valued at $35,000. Institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $30.10 on Monday. The stock has a fifty day moving average price of $31.04 and a 200-day moving average price of $33.33. The company has a market cap of $63.30 billion, a price-to-earnings ratio of 11.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources Limited has a fifty-two week low of $28.65 and a fifty-two week high of $41.29.

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).