Canadian Natural Resources (NYSE:CNQ) Upgraded to “B-” by TheStreet

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.

Several other research analysts also recently commented on the stock. CIBC boosted their price objective on shares of Canadian Natural Resources from C$48.00 to C$58.00 and gave the company an “outperform” rating in a research report on Wednesday, July 14th. Wells Fargo & Company boosted their price objective on shares of Canadian Natural Resources from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 30th. TD Securities boosted their price objective on shares of Canadian Natural Resources from C$52.00 to C$55.00 and gave the company a “buy” rating in a research report on Friday, August 6th. Barclays boosted their price objective on shares of Canadian Natural Resources from C$48.00 to C$51.00 and gave the company an “overweight” rating in a research report on Friday, July 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Canadian Natural Resources from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Canadian Natural Resources currently has an average rating of “Buy” and a consensus price target of $52.23.

Canadian Natural Resources stock opened at $40.23 on Tuesday. Canadian Natural Resources has a 52 week low of $15.17 and a 52 week high of $41.49. The stock has a market capitalization of $47.39 billion, a P/E ratio of 14.79 and a beta of 1.89. The stock has a 50-day simple moving average of $34.57 and a 200 day simple moving average of $33.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 0.78.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, August 5th. The oil and gas producer reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Canadian Natural Resources had a return on equity of 9.05% and a net margin of 17.14%. Research analysts forecast that Canadian Natural Resources will post 4.64 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its holdings in Canadian Natural Resources by 15.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 450,087 shares of the oil and gas producer’s stock valued at $16,347,000 after purchasing an additional 60,052 shares during the period. Allianz Asset Management GmbH increased its holdings in Canadian Natural Resources by 16.9% in the first quarter. Allianz Asset Management GmbH now owns 433,538 shares of the oil and gas producer’s stock valued at $13,401,000 after purchasing an additional 62,565 shares during the period. Yacktman Asset Management LP increased its holdings in Canadian Natural Resources by 90.7% in the second quarter. Yacktman Asset Management LP now owns 12,771,226 shares of the oil and gas producer’s stock valued at $463,340,000 after purchasing an additional 6,072,612 shares during the period. Goldman Sachs Group Inc. increased its holdings in Canadian Natural Resources by 199.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,753,472 shares of the oil and gas producer’s stock valued at $85,000,000 after purchasing an additional 1,833,435 shares during the period. Finally, Man Group plc boosted its position in Canadian Natural Resources by 32.2% during the first quarter. Man Group plc now owns 1,965,436 shares of the oil and gas producer’s stock valued at $60,752,000 after acquiring an additional 479,136 shares during the last quarter. Institutional investors and hedge funds own 67.34% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading; Midstream & Refining; and Exploration & Production.

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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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