Canadian Natural Resources (NYSE:CNQ) Stock Rating Lowered by Desjardins

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a report released on Tuesday, Marketbeat.com reports.

Separately, JPMorgan Chase & Co. increased their target price on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at $76.71 on Tuesday. The business’s 50-day simple moving average is $72.85 and its 200 day simple moving average is $67.44. The stock has a market cap of $82.24 billion, a price-to-earnings ratio of 13.85 and a beta of 1.54. Canadian Natural Resources has a 12-month low of $52.66 and a 12-month high of $82.58. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The firm had revenue of $7.02 billion for the quarter, compared to analyst estimates of $6.73 billion. As a group, research analysts anticipate that Canadian Natural Resources will post 5.7 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Natural Resources

A number of hedge funds have recently modified their holdings of the business. Mission Wealth Management LP raised its position in shares of Canadian Natural Resources by 3.6% during the third quarter. Mission Wealth Management LP now owns 4,796 shares of the oil and gas producer’s stock worth $310,000 after purchasing an additional 168 shares during the period. Janiczek Wealth Management LLC raised its position in shares of Canadian Natural Resources by 39.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 173 shares during the period. Clarius Group LLC raised its position in shares of Canadian Natural Resources by 3.3% during the fourth quarter. Clarius Group LLC now owns 5,600 shares of the oil and gas producer’s stock worth $367,000 after purchasing an additional 179 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Canadian Natural Resources by 21.2% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 187 shares during the period. Finally, Stokes Family Office LLC raised its position in shares of Canadian Natural Resources by 2.1% during the third quarter. Stokes Family Office LLC now owns 10,387 shares of the oil and gas producer’s stock worth $672,000 after purchasing an additional 215 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

About Canadian Natural Resources

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).