Canadian Natural Resources Limited (NYSE:CNQ) Stock Has Average Target Price of $57.00

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $57.00.

A number of research analysts recently issued reports on CNQ shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Monday, October 19th. Finally, Weiss Ratings upgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $53.54 on Friday. Canadian Natural Resources has a 12 month low of $30.13 and a 12 month high of $56.27. The firm has a market capitalization of $110.03 billion, a P/E ratio of 14.74 and a beta of 0.45. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $50.86 and a two-hundred day simple moving average of $46.05.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.15. The firm had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. On average, equities analysts forecast that Canadian Natural Resources will post 4.10 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNQ. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Canadian Natural Resources by 10.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after acquiring an additional 3,397,500 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canadian Natural Resources in the first quarter worth approximately $1,411,619,000. TD Waterhouse Canada Inc. raised its holdings in shares of Canadian Natural Resources by 1.4% during the third quarter. TD Waterhouse Canada Inc. now owns 16,459,772 shares of the oil and gas producer’s stock valued at $784,278,000 after purchasing an additional 223,444 shares during the last quarter. Amundi raised its holdings in shares of Canadian Natural Resources by 3.1% during the second quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock valued at $325,426,000 after purchasing an additional 244,205 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Canadian Natural Resources by 26.7% during the first quarter. Swiss National Bank now owns 7,011,862 shares of the oil and gas producer’s stock valued at $341,546,000 after purchasing an additional 1,475,500 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids. Its portfolio includes conventional and unconventional petroleum assets, heavy crude oil operations, and oil sands projects that produce bitumen and synthetic crude oil.

The company’s principal operations are located in Western Canada, including oil sands and conventional assets in Alberta and natural gas properties in Alberta and British Columbia.