Gradient Investments LLC Has $648,000 Holdings in Canadian Natural Resources Limited (NYSE:CNQ)

Gradient Investments LLC trimmed its position in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,984 shares of the oil and gas producer’s stock after selling 1,403 shares during the period. Gradient Investments LLC’s holdings in Canadian Natural Resources were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC increased its stake 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 purchasing an additional 490 shares during the last quarter. Coastline Trust Co acquired a new position in Canadian Natural Resources during the third quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new stake in Canadian Natural Resources in the third quarter valued at approximately $37,000. Sound Income Strategies LLC acquired a new stake in shares of Canadian Natural Resources in the third quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Canadian Natural Resources by 58.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 528 shares during the period. 74.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Canadian Natural Resources Stock Down 1.1 %

Shares of CNQ opened at $31.30 on Friday. The firm has a market cap of $65.82 billion, a P/E ratio of 12.15 and a beta of 1.46. 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 52 week low of $29.23 and a 52 week high of $41.29. The firm’s 50-day simple moving average is $31.96 and its 200 day simple moving average is $33.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same quarter last year, the company earned $0.96 earnings per share. On average, analysts forecast that Canadian Natural Resources Limited will post 2.44 earnings per share for the current year.

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).