BluePath Capital Management LLC Grows Position in Canadian Natural Resources Limited (NYSE:CNQ)

BluePath Capital Management LLC grew its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 24.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,877 shares of the oil and gas producer’s stock after buying an additional 4,436 shares during the quarter. BluePath Capital Management LLC’s holdings in Canadian Natural Resources were worth $721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC grew its stake in Canadian Natural Resources by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock valued at $1,447,326,000 after acquiring an additional 1,651,452 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Natural Resources by 93.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Canadian Natural Resources by 105.3% in the second quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after purchasing an additional 16,245,046 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Canadian Natural Resources by 90.3% in the second quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after purchasing an additional 14,246,978 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Canadian Natural Resources by 5.1% during the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock worth $945,965,000 after buying an additional 1,383,478 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $31.48 on Thursday. The company’s 50-day moving average is $32.39 and its two-hundred day moving average is $34.09. Canadian Natural Resources Limited has a 1-year low of $29.23 and a 1-year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm has a market capitalization of $66.21 billion, a price-to-earnings ratio of 12.23 and a beta of 1.46.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The company had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current year.

Analyst Upgrades and Downgrades

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

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).