Canadian Natural Resources (NYSE:CNQ) Stock Rating Lowered by StockNews.com

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other equities research analysts also recently weighed in on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Raymond James raised Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Finally, Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and an average price target of $47.00.

Canadian Natural Resources Trading Up 2.3 %

Canadian Natural Resources stock opened at $34.47 on Wednesday. Canadian Natural Resources has a 52 week low of $26.33 and a 52 week high of $41.29. The stock has a 50-day moving average price of $37.65 and a 200 day moving average price of $35.07. The company has a quick ratio of 0.61, a current ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $73.77 billion, a price-to-earnings ratio of 13.73 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Canadian Natural Resources had a net margin of 18.21% and a return on equity of 20.58%. Sell-side analysts anticipate that Canadian Natural Resources will post 2.75 EPS for the current year.

Institutional Trading of Canadian Natural Resources

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of Canadian Natural Resources by 2.6% in the third quarter. PNC Financial Services Group Inc. now owns 16,579 shares of the oil and gas producer’s stock valued at $1,072,000 after purchasing an additional 426 shares during the period. Prudential PLC lifted its position in shares of Canadian Natural Resources by 18.5% in the third quarter. Prudential PLC now owns 6,410 shares of the oil and gas producer’s stock valued at $415,000 after acquiring an additional 1,002 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Canadian Natural Resources in the third quarter worth approximately $398,000. Envestnet Asset Management Inc. increased its position in shares of Canadian Natural Resources by 37.9% during the third quarter. Envestnet Asset Management Inc. now owns 226,262 shares of the oil and gas producer’s stock worth $14,632,000 after purchasing an additional 62,230 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new position in Canadian Natural Resources in the 3rd quarter valued at $429,000. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 (thermal oil), and synthetic crude oil (SCO).