Traders Sell Canadian Natural Resources (CNQ) on Strength (CNQ)

Investors sold shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) on strength during trading hours on Monday. $5.34 million flowed into the stock on the tick-up and $47.59 million flowed out of the stock on the tick-down, for a money net flow of $42.25 million out of the stock. Of all companies tracked, Canadian Natural Resources had the 33rd highest net out-flow for the day. Canadian Natural Resources traded up $0.36 for the day and closed at $26.09

A number of research firms have recently commented on CNQ. Canaccord Genuity reissued a “buy” rating and set a $50.00 target price on shares of Canadian Natural Resources in a research report on Tuesday, November 20th. Zacks Investment Research raised shares of Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, December 7th. BMO Capital Markets reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Thursday, December 6th. Finally, Credit Suisse Group began coverage on shares of Canadian Natural Resources in a research report on Monday, January 28th. They set an “outperform” rating and a $48.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.86.

The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $32.55 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 4.58 and a beta of 1.21.

Several hedge funds and other institutional investors have recently bought and sold shares of CNQ. Capital World Investors raised its holdings in Canadian Natural Resources by 152.8% in the third quarter. Capital World Investors now owns 37,457,594 shares of the oil and gas producer’s stock valued at $1,223,704,000 after acquiring an additional 22,638,074 shares in the last quarter. Capital International Investors raised its holdings in Canadian Natural Resources by 201.3% in the third quarter. Capital International Investors now owns 10,484,015 shares of the oil and gas producer’s stock valued at $342,506,000 after acquiring an additional 7,003,917 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in Canadian Natural Resources by 33.6% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 23,063,446 shares of the oil and gas producer’s stock valued at $55,664,000 after acquiring an additional 5,794,865 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Canadian Natural Resources by 30.9% in the third quarter. Mackenzie Financial Corp now owns 20,472,453 shares of the oil and gas producer’s stock valued at $668,630,000 after acquiring an additional 4,838,504 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Canadian Natural Resources by 78.4% in the third quarter. Franklin Resources Inc. now owns 7,388,465 shares of the oil and gas producer’s stock valued at $241,224,000 after acquiring an additional 3,246,524 shares in the last quarter. 66.38% of the stock is currently owned by institutional investors and hedge funds.

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About Canadian Natural Resources (NYSE:CNQ)

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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