Why You Should Care When Hedge Funds Invest in Canadian Natural Resources Limited (CNQ)?

Canadian Natural Resources Limited (NYSE:CNQ) went up to recover about 14.28% since recording its record low price of $21.85. The stock experienced 0.93% jump, arriving at $24.97 on 01/03/2019. During the day, the stock price traveled from $24.45 to $25.125. This company shares are 63.16% off its target price of $40.74 and the current market capitalization stands at $31.5B. The recent change has given its price a -5.71% deficit over SMA 50 and -34.63% deficit over its 52-week high. The stock witnessed -0.72% declines, -23.69% declines and -30.56% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found CNQ’s volatility during a week at 4.2% and during a month it has been found around 4.48%.

Canadian Natural Resources Limited (CNQ) Top Holders

Institutional investors currently hold around $19.91 billion or 66.6% in CNQ stock. Look at its top three institutional owners. Capital Research Global Investors owns $1.68 billion in Canadian Natural Resources Limited, which represents roughly 5.34% of the company’s market cap and approximately 8.46% of the institutional ownership. Similar statistics are true for the second largest owner, Royal Bank Of Canada, which owns 63,103,127 shares of the stock are valued at $1.56 billion. The third largest holder is Wellington Management Group Llp, which currently holds $1.18 billion worth of this stock and that ownership represents nearly 3.74% of its market capitalization.

Canadian Natural Resources Limited 13F Filings

At the end of September reporting period, 171 institutional holders increased their position in Canadian Natural Resources Limited (NYSE:CNQ) by some 59,377,491 shares, 187 decreased positions by 74,991,321 and 76 held positions by 670,229,452. That puts total institutional holdings at 804,598,264 shares, according to SEC filings. The stock grabbed 46 new institutional investments totaling 1,625,061 shares while 49 institutional investors sold out their entire positions totaling 5,880,538 shares.

Canadian Natural Resources Limited (CNQ) Analyst Guide

Several analysts have released their opinion on Canadian Natural Resources Limited (NYSE:CNQ), with 3 analysts believing it is a strong buy. Whereas 3 of them predict the stock is a hold. Also, there are 16 buy, 0 sell and 1 strong sell ratings, collectively assigning a 2.13 average brokerage recommendation.