Canadian Natural Resources (NYSE:CNQ) Rating Increased to Sector Outperform at Scotiabank

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Trading Up 0.4 %

NYSE CNQ opened at $29.96 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The firm’s fifty day moving average price is $30.14 and its 200 day moving average price is $32.30. The company has a market capitalization of $62.92 billion, a price-to-earnings ratio of 11.63 and a beta of 1.48. Canadian Natural Resources has a 12 month low of $25.62 and a 12 month high of $41.29.

Institutional Trading of Canadian Natural Resources

Several hedge funds have recently made changes to their positions in the company. Kingsview Wealth Management LLC lifted its stake in shares of Canadian Natural Resources by 4.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares during the period. Fifth Third Bancorp lifted its stake in shares of Canadian Natural Resources by 51.0% in the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 429 shares during the period. Assetmark Inc. lifted its stake in shares of Canadian Natural Resources by 57.3% in the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 439 shares during the period. Pitcairn Co. lifted its stake in shares of Canadian Natural Resources by 1.3% in the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 475 shares during the period. Finally, Continuum Advisory LLC lifted its stake in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).