Metis Global Partners LLC Buys 12,976 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Metis Global Partners LLC lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,674 shares of the oil and gas producer’s stock after acquiring an additional 12,976 shares during the quarter. Metis Global Partners LLC’s holdings in Canadian Natural Resources were worth $4,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNQ. Continuum Advisory LLC raised its holdings in 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. R Squared Ltd bought a new position in Canadian Natural Resources during the fourth quarter worth $32,000. Coastline Trust Co acquired a new position in Canadian Natural Resources in the third quarter valued at $33,000. Newbridge Financial Services Group Inc. bought a new stake in Canadian Natural Resources during the fourth quarter valued at $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Canadian Natural Resources during the 3rd quarter worth about $37,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

CNQ opened at $28.25 on Friday. Canadian Natural Resources Limited has a 1 year low of $27.66 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 company has a market capitalization of $59.38 billion, a price-to-earnings ratio of 10.97 and a beta of 1.45. The firm’s fifty day moving average price is $30.73 and its two-hundred day moving average price is $33.00.

Wall Street Analysts Forecast Growth

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

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).