Canadian Natural Resources’ (CNQ) “Outperform” Rating Reiterated at Raymond James

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ)‘s stock had its “outperform” rating restated by Raymond James in a report released on Friday, Stock Target Advisor reports. They presently have a $40.00 price target on the oil and gas producer’s stock. Raymond James’ price target would suggest a potential upside of 43.16% from the stock’s current price.

Several other brokerages also recently weighed in on CNQ. Zacks Investment Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Monday, July 22nd. Wells Fargo & Co downgraded shares of Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on shares of Canadian Natural Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday. ValuEngine upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reduced their price objective on shares of 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, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.92.

Canadian Natural Resources stock traded down $0.14 during trading on Friday, reaching $27.94. The stock had a trading volume of 1,697,260 shares, compared to its average volume of 2,733,854. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $31.77. The business has a 50 day moving average price of $26.00 and a 200 day moving average price of $26.19. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. The stock has a market cap of $31.35 billion, a PE ratio of 13.00, a P/E/G ratio of 1.74 and a beta of 1.16.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.44. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, equities analysts predict that Canadian Natural Resources will post 2.35 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. increased its holdings in shares of Canadian Natural Resources by 0.7% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 15,015,956 shares of the oil and gas producer’s stock valued at $399,783,000 after acquiring an additional 108,112 shares during the period. Lincluden Management Ltd. increased its holdings in shares of Canadian Natural Resources by 10.1% in the 3rd quarter. Lincluden Management Ltd. now owns 2,024,191 shares of the oil and gas producer’s stock valued at $53,857,000 after acquiring an additional 185,305 shares during the period. Boston Advisors LLC acquired a new position in shares of Canadian Natural Resources in the 3rd quarter valued at $693,000. Tower Research Capital LLC TRC increased its holdings in shares of Canadian Natural Resources by 1,038.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 72,626 shares of the oil and gas producer’s stock valued at $1,933,000 after acquiring an additional 66,247 shares during the period. Finally, Manitou Investment Management Ltd. increased its holdings in shares of Canadian Natural Resources by 2.3% in the 3rd quarter. Manitou Investment Management Ltd. now owns 711,489 shares of the oil and gas producer’s stock valued at $18,938,000 after acquiring an additional 15,673 shares during the period. 65.39% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Natural Resources

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.

Featured Article: Purposes and Functions of the Federal Reserve

Stock Target Advisor

Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.