5 Stocks Canadian Investors Love

3. Canadian Natural Resources Limited (NYSE:CNQ)

Number of Hedge Fund Holders: 32  

Canadian Natural Resources Limited (NYSE:CNQ) is an oil and gas exploration and production firm. On May 5, the firm posted earnings for the first quarter of 2022, reporting earnings per share of C$2.86 and cash flows of around $3 billion from operating activities. In the first quarter, the average natural gas production of the firm was a record 2,006 MMcf/d, an increase of 26% from the previous year.

On June 30, Stifel analyst Michael Dunn maintained a Buy rating on Canadian Natural Resources Limited (NYSE:CNQ) stock and raised the price target to C$115 from C$111. National Bank also has a bullish rating on the shares. 

Among the hedge funds being tracked by Insider Monkey, Texas-based investment firm Yacktman Asset Management is a leading shareholder in Canadian Natural Resources Limited (NYSE:CNQ), with 16.9 million shares worth more than $1 billion.