Principal Financial Group Inc. Purchases 282,696 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Principal Financial Group Inc. lifted its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,468,492 shares of the oil and gas producer’s stock after acquiring an additional 282,696 shares during the quarter. Principal Financial Group Inc.’s holdings in Canadian Natural Resources were worth $137,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning boosted its stake in Canadian Natural Resources by 15.8% in the 3rd quarter. Creative Planning now owns 92,067 shares of the oil and gas producer’s stock worth $3,058,000 after purchasing an additional 12,570 shares during the period. Global Retirement Partners LLC boosted its stake in Canadian Natural Resources by 1,505.5% in the 3rd quarter. Global Retirement Partners LLC now owns 11,479 shares of the oil and gas producer’s stock worth $381,000 after purchasing an additional 10,764 shares during the period. Blue Trust Inc. boosted its stake in Canadian Natural Resources by 72.1% in the 3rd quarter. Blue Trust Inc. now owns 5,019 shares of the oil and gas producer’s stock worth $179,000 after purchasing an additional 2,103 shares during the period. Whittier Trust Co. boosted its stake in Canadian Natural Resources by 7.5% in the 3rd quarter. Whittier Trust Co. now owns 25,736 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 1,799 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Canadian Natural Resources by 9.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 10,193 shares of the oil and gas producer’s stock worth $338,000 after purchasing an additional 871 shares during the period. Institutional investors own 74.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 target price on shares of Canadian Natural Resources in a research note on Tuesday. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Hold” and an average target price of $62.00.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $30.48 on Wednesday. The business’s 50-day moving average price is $30.99 and its two-hundred day moving average price is $33.30. Canadian Natural Resources Limited has a twelve month low of $28.65 and a twelve month high of $41.29. The stock has a market cap of $64.09 billion, a P/E ratio of 11.83 and a beta of 1.45. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Canadian Natural Resources Company 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).