Canadian Natural Resources (NYSE:CNQ) Stock Rating Upgraded by Zacks Research

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

CNQ has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a research note on Thursday, August 27th. Wall Street Zen raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Raymond James Financial reissued an “outperform” rating on shares of Canadian Natural Resources in a research note on Wednesday, September 16th. Desjardins upgraded Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 16th. Finally, TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Stock Down 0.3%

CNQ opened at $48.16 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00. The company has a market cap of $98.97 billion, a price-to-earnings ratio of 11.89 and a beta of 0.53. Canadian Natural Resources has a one year low of $29.68 and a one year high of $52.31. The business’s fifty day moving average is $48.85 and its two-hundred day moving average is $46.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.43 by $0.15. The business had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. Analysts anticipate that Canadian Natural Resources will post 4.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Byrne Asset Management LLC purchased a new stake in Canadian Natural Resources during the 3rd quarter worth approximately $30,000. Ferguson Wellman Capital Management Inc. raised its stake in shares of Canadian Natural Resources by 0.5% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 489,147 shares of the oil and gas producer’s stock valued at $23,024,000 after purchasing an additional 2,578 shares in the last quarter. Confluence Investment Management LLC grew its stake in Canadian Natural Resources by 38.0% in the third quarter. Confluence Investment Management LLC now owns 44,134 shares of the oil and gas producer’s stock worth $2,077,000 after purchasing an additional 12,160 shares in the last quarter. QRG Capital Management Inc. raised its stake in Canadian Natural Resources by 26.1% during the second quarter. QRG Capital Management Inc. now owns 7,049 shares of the oil and gas producer’s stock valued at $278,000 after buying an additional 1,460 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Canadian Natural Resources by 2.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 50,990 shares of the oil and gas producer’s stock worth $2,014,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development, production, marketing and transportation company headquartered in Calgary, Alberta. The company produces synthetic crude oil, conventional heavy and light crude oil, natural gas liquids and natural gas.

Its operations are concentrated in Western Canada and include oil sands mining and upgrading projects in northern Alberta, conventional and heavy-oil assets, and natural gas production.