Canadian Natural Resources (NYSE:CNQ) PT Raised to $44.00

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price target lifted by analysts at TD Securities from $41.00 to $44.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. TD Securities’ price target points to a potential upside of 57.48% from the stock’s previous close.

Several other equities analysts have also recently commented on CNQ. ValuEngine upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Canadian Natural Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Co cut Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Friday, September 6th. CIBC set a $46.00 target price on Canadian Natural Resources and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Zacks Investment Research cut Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.92.

Shares of Canadian Natural Resources stock traded down $0.14 on Friday, hitting $27.94. 1,697,260 shares of the company’s stock traded hands, compared to its average volume of 2,733,854. The stock has a market cap of $31.35 billion, a P/E ratio of 13.00, a PEG ratio of 1.74 and a beta of 1.16. 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’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 released its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.44. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same period in the prior year, the business posted $1.11 EPS. Equities research analysts forecast that Canadian Natural Resources will post 2.35 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wetherby Asset Management Inc. lifted its stake in Canadian Natural Resources by 4.4% during the second quarter. Wetherby Asset Management Inc. now owns 22,901 shares of the oil and gas producer’s stock worth $617,000 after purchasing an additional 968 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Canadian Natural Resources by 7.8% during the second quarter. Quadrant Capital Group LLC now owns 13,985 shares of the oil and gas producer’s stock worth $366,000 after purchasing an additional 1,015 shares during the last quarter. Huntington National Bank lifted its stake in Canadian Natural Resources by 348.8% during the second quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 1,036 shares during the last quarter. Meadow Creek Investment Management LLC lifted its stake in Canadian Natural Resources by 20.3% during the second quarter. Meadow Creek Investment Management LLC now owns 6,544 shares of the oil and gas producer’s stock worth $170,000 after purchasing an additional 1,104 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in Canadian Natural Resources by 13.4% during the second quarter. MML Investors Services LLC now owns 9,569 shares of the oil and gas producer’s stock worth $258,000 after purchasing an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.

Canadian Natural Resources Company Profile

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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