Canadian Natural Resources Limited (NYSE:CNQ) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 11.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,734 shares of the oil and gas producer’s stock after selling 8,647 shares during the period. Truist Financial Corp’s holdings in Canadian Natural Resources were worth $2,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Assenagon Asset Management S.A. increased its position in Canadian Natural Resources by 6,902.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Canadian Natural Resources by 73.3% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock worth $260,116,000 after purchasing an additional 3,312,442 shares during the last quarter. National Bank of Canada FI increased its position in Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after purchasing an additional 3,198,007 shares during the last quarter. Fisher Asset Management LLC increased its position in Canadian Natural Resources by 3.9% during the third quarter. Fisher Asset Management LLC now owns 43,581,024 shares of the oil and gas producer’s stock worth $1,447,326,000 after purchasing an additional 1,651,452 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased 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 purchasing an additional 1,383,478 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 0.7 %

Shares of CNQ stock opened at $28.64 on Thursday. The company has a 50-day moving average of $30.78 and a two-hundred day moving average of $33.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources Limited has a 1-year low of $28.37 and a 1-year high of $41.29. The firm has a market cap of $60.20 billion, a PE ratio of 11.12 and a beta of 1.45.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 target price on shares of Canadian Natural Resources in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and an average price target 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).