Canadian Natural Resources (NYSE:CNQ) Stock Rating Upgraded by Tudor Pickering

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Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by research analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a report released on Wednesday, BenzingaRatingsTable reports.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Co reaffirmed a “sell” rating on shares of Canadian Natural Resources in a research note on Monday. Credit Suisse Group set a $48.00 target price on Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, September 10th. National Bank Financial lowered Canadian Natural Resources from an “outperform” rating to a “sector perform” rating in a report on Wednesday, October 2nd. Goldman Sachs Group set a $29.00 price target on Canadian Natural Resources and gave the company a “hold” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada dropped their price target on Canadian Natural Resources from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $40.65.

Shares of CNQ opened at $29.52 on Wednesday. Canadian Natural Resources has a twelve month low of $21.85 and a twelve month high of $31.77. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $34.90 billion, a P/E ratio of 13.73, a PEG ratio of 1.63 and a beta of 1.21. The firm’s 50-day moving average is $27.42 and its two-hundred day moving average is $26.11.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.44. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.46 billion. Canadian Natural Resources had a return on equity of 7.87% and a net margin of 18.37%. During the same quarter in the previous year, the company earned $1.11 EPS. Analysts predict that Canadian Natural Resources will post 2.55 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Canadian Natural Resources during the second quarter worth $40,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of Canadian Natural Resources during the 2nd quarter worth about $1,033,000. Lindbrook Capital LLC grew its holdings in shares of Canadian Natural Resources by 205.1% during the third quarter. Lindbrook Capital LLC now owns 2,288 shares of the oil and gas producer’s stock worth $61,000 after buying an additional 1,538 shares in the last quarter. SG3 Management LLC acquired a new position in shares of Canadian Natural Resources in the second quarter valued at approximately $65,000. Finally, Whittier Trust Co. raised its position in shares of Canadian Natural Resources by 1,309.9% in the third quarter. Whittier Trust Co. now owns 5,287 shares of the oil and gas producer’s stock valued at $141,000 after buying an additional 4,912 shares during the last quarter. Hedge funds and other institutional investors own 65.82% 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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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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