Canadian Natural Resources (NYSE: CNQ) (TSE: CNQ)According to analysts at ResearchRatings.com, the buy rating of the stock was confirmed by research analysts at Tudor Pickering in a report released on Thursday.
Other research analysts recently released reports on the company. Barclays issued a “buy” rating on Friday, April 2nd, and issued a research report with a target price of $ 49.00 on shares of Canadian Natural Resources. Stifel Nicolaus raised its target price for Canadian natural resources from USD 50.00 to USD 54.00 and gave the stock a “Buy” rating in a research note on Friday, March 5th. The Royal Bank of Canada confirmed a buy rating for shares of Canadian Natural Resources in a research note on Sunday, March 7th. BMO Capital Markets raised its target price for Canadian natural resources from USD 42.00 to USD 45.00 and rated the stock as “Outperform” in a research note on Friday, March 5th. Finally, on Wednesday, January 6th, the National Bank Financial confirmed an “outperform” rating for shares of Canadian Natural Resources in a research note. Four equity research analysts have rated the stock with a hold rating, fourteen with a buy rating, and one with a strong buy rating. The company currently has a consensus rating of “Buy” and a consensus target of $ 40.74.
Stocks of NYSE: CNQ opened at $ 31.41 on Thursday. Canadian Natural Resources has a 1-year low of $ 11.77 and a 1-year high of $ 32.64. The company has a leverage ratio of 0.65, a current ratio of 0.97, and a quick ratio of 0.71. The company has a 50-day moving average price of $ 30.45 and a 200-day moving average price of $ 24.27. The company has a market cap of $ 37.24 billion, a PE ratio of -87.25, and a beta of 1.90.
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Canadian Natural Resources (NYSE: CNQ) (TSE: CNQ) last released its quarterly earnings data on Wednesday March 3rd. The oil and gas producer reported earnings per share of $ 0.15 for the quarter, beating the consensus estimate of $ 0.13 by $ 0.02. The company had revenue of $ 3.85 billion for the quarter, compared to analyst expectations of $ 3.83 billion. Canadian Natural Resources posted a negative return on equity of 1.74% and a negative net margin of 3.03%. Sell-side analysts assume on average that Canadian Natural Resources will achieve earnings per share of -0.55 in the current fiscal year.
Institutional investors and hedge funds have recently changed their positions in the business. CIBC Asset Management Inc increased its stake in Canadian Natural Resources by 3.4% in the fourth quarter. CIBC Asset Management Inc now owns 13,651,177 shares in the oil and gas producer valued at $ 327,307,000 after acquiring an additional 452,855 shares last quarter. CIBC World Markets Inc. increased its stake in Canadian Natural Resources by 9.5% in the fourth quarter. CIBC World Markets Inc. now owns 13,031,985 shares in the oil and gas producer valued at $ 313,419,000 after purchasing an additional 1,131,774 shares last quarter. Price T Rowe Associates Inc. MD increased its stake in Canadian Natural Resources by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,568,071 shares in the oil and gas producer valued at $ 278,212,000 after purchasing an additional 306,964 shares last quarter. Dimensional Fund Advisors LP increased its stake in Canadian Natural Resources by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,978,393 shares in the oil and gas producer valued at $ 239,980,000 after purchasing an additional 510,718 shares last quarter. Finally, Mackenzie Financial Corp increased its stake in Canadian Natural Resources by 6.2% in the fourth quarter. Mackenzie Financial Corp now owns 8,795,782 shares in the oil and gas producer valued at $ 210,732,000 after purchasing an additional 516,834 shares last quarter. Institutional investors currently hold 66.50% of the company’s shares.
About Canadian Natural Resources
Canadian Natural Resources Limited purchases, researches, develops, manufactures, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude (SCO), light and medium crude, bitumen (thermal oil), primary heavy crude, and heavy crude from Pelican Lake.
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