Guardian Capital LP Has Boosted Its Canadian Nat Res LTD (CNQ) Holding by $31.78 Million

April 24, 2018 - By Kurt Siggers

Canadian Natural Resources Limited (NYSE:CNQ) Logo

Guardian Capital Lp increased its stake in Canadian Nat Res Ltd (CNQ) by 13.65% based on its latest 2017Q4 regulatory filing with the SEC. Guardian Capital Lp bought 908,091 shares as the company’s stock declined 11.77% with the market. The institutional investor held 7.56 million shares of the oil & gas production company at the end of 2017Q4, valued at $271.52 million, up from 6.65 million at the end of the previous reported quarter. Guardian Capital Lp who had been investing in Canadian Nat Res Ltd for a number of months, seems to be bullish on the $44.37B market cap company. The stock increased 0.51% or $0.18 during the last trading session, reaching $35.96. About 267,827 shares traded. Canadian Natural Resources Limited (NYSE:CNQ) has declined 3.31% since April 24, 2017 and is downtrending. It has underperformed by 14.86% the S&P500.

Guardian Capital Lp, which manages about $6.78 billion US Long portfolio, decreased its stake in Franco Nevada Corp (NYSE:FNV) by 111,919 shares to 622,931 shares, valued at $50.02 million in 2017Q4, according to the filing. It also reduced its holding in Methanex Corp (NASDAQ:MEOH) by 346,906 shares in the quarter, leaving it with 2.92 million shares, and cut its stake in Enbridge Inc (NYSE:ENB).

Canadian Natural Resources Limited (NYSE:CNQ) Ratings Coverage

Among 3 analysts covering Canadian Natural Res (NYSE:CNQ), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Canadian Natural Res had 4 analyst reports since January 24, 2018 according to SRatingsIntel. Wells Fargo downgraded the shares of CNQ in report on Wednesday, February 7 to “Market Perform” rating. The stock of Canadian Natural Resources Limited (NYSE:CNQ) earned “Overweight” rating by Morgan Stanley on Wednesday, January 24. Morgan Stanley maintained it with “Overweight” rating and $55 target in Monday, April 16 report.

Canadian Natural Resources Limited (NYSE:CNQ) Ratings Chart

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