Canadian Natural Resources (CNQ) Upgraded at Macquarie

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a report released on Tuesday.

A number of other equities research analysts also recently weighed in on CNQ. Morgan Stanley cut their price target on Canadian Natural Resources from $60.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, November 20th. Zacks Investment Research downgraded Canadian Natural Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Royal Bank of Canada downgraded Canadian Natural Resources from a “top pick” rating to an “outperform” rating and set a $38.40 price target for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. Canaccord Genuity reissued a “buy” rating and issued a $50.00 price objective on shares of Canadian Natural Resources in a research note on Tuesday, November 20th. Finally, Raymond James reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Canadian Natural Resources presently has an average rating of “Buy” and a consensus target price of $46.08.

Shares of CNQ traded up $0.12 during midday trading on Tuesday, reaching $27.81. 983,388 shares of the stock were exchanged, compared to its average volume of 3,391,569. Canadian Natural Resources has a 12-month low of $24.02 and a 12-month high of $38.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.69. The company has a market capitalization of $30.51 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.45. Canadian Natural Resources had a return on equity of 12.33% and a net margin of 15.94%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same period last year, the business earned $0.19 EPS. On average, equities research analysts expect that Canadian Natural Resources will post 2.75 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Worth Venture Partners LLC acquired a new stake in Canadian Natural Resources in the 3rd quarter valued at approximately $131,000. Legacy Financial Advisors Inc. acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $148,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $153,000. Cubist Systematic Strategies LLC grew its holdings in shares of Canadian Natural Resources by 50.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Canadian Natural Resources by 19,853.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock worth $197,000 after purchasing an additional 5,956 shares in the last quarter. 66.30% of the stock is currently owned by hedge funds and other institutional investors.

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 light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). 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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