Truist Financial Corp Lowers Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Truist Financial Corp decreased its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.0% in the 4th quarter, HoldingsChannel reports. The firm owned 69,734 shares of the oil and gas producer’s stock after selling 8,647 shares during the quarter. Truist Financial Corp’s holdings in Canadian Natural Resources were worth $2,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNQ. Continuum Advisory LLC boosted its stake in shares of Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 490 shares during the period. R Squared Ltd purchased a new position in Canadian Natural Resources in the fourth quarter worth approximately $32,000. Coastline Trust Co purchased a new position in Canadian Natural Resources in the third quarter worth approximately $33,000. Newbridge Financial Services Group Inc. purchased a new position in Canadian Natural Resources in the fourth quarter worth approximately $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Canadian Natural Resources in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNQ. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research note on Tuesday, February 18th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources has a consensus rating of “Hold” and an average price target of $62.00.

Canadian Natural Resources Stock Down 0.7 %

CNQ stock opened at $28.64 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources Limited has a twelve month low of $28.37 and a twelve month high of $41.29. The company’s 50 day moving average is $30.78 and its two-hundred day moving average is $33.11. The stock has a market cap of $60.20 billion, a P/E ratio of 11.12 and a beta of 1.45.

About Canadian Natural Resources

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).