Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank of Canada in a report issued on Friday.
Several other analysts have also commented on CNQ. ValuEngine lowered Canadian Natural Resource from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research lowered Canadian Natural Resource from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. CIBC initiated coverage on Canadian Natural Resource in a research note on Friday, October 5th. They issued a “sector outperform” rating for the company. Macquarie lowered Canadian Natural Resource from an “outperform” rating to a “neutral” rating in a research note on Tuesday, October 9th. Finally, Morgan Stanley reduced their target price on Canadian Natural Resource from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, October 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.68.
Shares of CNQ traded down $0.54 during midday trading on Friday, hitting $28.37. 277,990 shares of the company’s stock traded hands, compared to its average volume of 4,116,587. Canadian Natural Resource has a 1 year low of $26.90 and a 1 year high of $38.20. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market cap of $33.61 billion, a PE ratio of 34.37, a P/E/G ratio of 1.96 and a beta of 1.23.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, November 1st. The oil and gas producer reported $1.11 EPS for the quarter, beating the consensus estimate of $0.66 by $0.45. Canadian Natural Resource had a return on equity of 8.35% and a net margin of 12.34%. The firm had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the prior year, the business posted $0.19 EPS. As a group, research analysts forecast that Canadian Natural Resource will post 2.57 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Legacy Financial Advisors Inc. acquired a new stake in Canadian Natural Resource during the 3rd quarter worth about $148,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Canadian Natural Resource during the 3rd quarter worth about $153,000. Cubist Systematic Strategies LLC grew its position in Canadian Natural Resource 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 during the period. Checchi Capital Advisers LLC acquired a new stake in Canadian Natural Resource during the 3rd quarter worth about $212,000. Finally, Signaturefd LLC grew its position in Canadian Natural Resource by 49.7% during the 2nd quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 2,323 shares during the period. Institutional investors own 67.07% of the company’s stock.
About Canadian Natural Resource
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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