Raymond James reiterated their outperform rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research report sent to investors on Friday morning, Stock Target Advisor reports. The firm currently has a $40.00 price objective on the oil and gas producer’s stock.
CNQ has been the topic of several other research reports. National Bank Financial increased their price objective on shares of Canadian Natural Resources from $43.00 to $44.00 and gave the stock a sector perform rating in a research note on Friday. CIBC set a $46.00 price objective on shares of Canadian Natural Resources and gave the stock a buy rating in a research note on Tuesday, October 15th. Zacks Investment Research cut shares of Canadian Natural Resources from a buy rating to a hold rating and set a $28.00 price objective on the stock. in a research note on Monday, July 22nd. Wells Fargo & Co cut shares of Canadian Natural Resources from a market perform rating to an underperform rating in a research note on Friday, September 6th. Finally, Credit Suisse Group set a $48.00 price objective on shares of Canadian Natural Resources and gave the stock a buy rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. Canadian Natural Resources presently has a consensus rating of Buy and an average target price of $40.92.
CNQ traded down $0.14 during midday trading on Friday, hitting $27.94. 1,697,260 shares of the company traded hands, compared to its average volume of 2,733,854. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $31.35 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16. The company’s 50-day moving average is $26.00 and its 200 day moving average is $26.19. Canadian Natural Resources has a 52 week low of $21.85 and a 52 week high of $31.77.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.44. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The business had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the business earned $1.11 EPS. On average, sell-side analysts predict that Canadian Natural Resources will post 2.35 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in CNQ. MUFG Securities EMEA plc purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at approximately $123,576,000. Hexavest Inc. grew its holdings in Canadian Natural Resources by 774.9% during the 2nd quarter. Hexavest Inc. now owns 2,225,857 shares of the oil and gas producer’s stock valued at $60,145,000 after buying an additional 1,971,455 shares in the last quarter. Alberta Investment Management Corp grew its holdings in Canadian Natural Resources by 61.9% during the 2nd quarter. Alberta Investment Management Corp now owns 4,604,838 shares of the oil and gas producer’s stock valued at $162,597,000 after buying an additional 1,760,600 shares in the last quarter. National Pension Service purchased a new stake in Canadian Natural Resources during the 2nd quarter valued at approximately $55,410,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Canadian Natural Resources by 711.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,400,266 shares of the oil and gas producer’s stock valued at $37,764,000 after buying an additional 1,227,685 shares in the last quarter. 65.39% of the stock is owned by institutional investors and hedge funds.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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