Canadian Natural Resources (NYSE:CNQ) Rating Lowered to “Hold” at Wall Street Zen

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

CNQ has been the subject of several other research reports. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce reiterated 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 research 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. Finally, Raymond James Financial cut Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Canadian Natural Resources Trading Down 0.9%

CNQ opened at $48.49 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. Canadian Natural Resources has a twelve month low of $30.13 and a twelve month high of $56.27. The company has a 50-day simple moving average of $50.82 and a 200 day simple moving average of $46.27. The stock has a market capitalization of $99.65 billion, a price-to-earnings ratio of 14.74 and a beta of 0.45.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 5th. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.13. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.79 billion. Analysts predict that Canadian Natural Resources will post 4.10 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. increased its position in Canadian Natural Resources by 280.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 552 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 407 shares during the last quarter. Axiom Investment Management LLC bought a new stake in shares of Canadian Natural Resources in the 1st quarter worth $29,000. Byrne Asset Management LLC bought a new position in Canadian Natural Resources in the 3rd quarter valued at $30,000. Trust Co. of Vermont bought a new position in Canadian Natural Resources in the 2nd quarter worth $26,000. Finally, CX Institutional purchased a new stake in Canadian Natural Resources during the second quarter valued at $28,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Canadian Natural Resources

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Adjusted earnings were C$1.18 per share, above the C$1.05 consensus and up from C$0.62 a year earlier. Net profit reportedly rose to C$3 billion from C$600 million, supported by higher energy prices and production. CNQ beats Q3 earnings estimates
• Positive Sentiment: CNQ reached its net-debt target ahead of schedule and plans to accelerate share buybacks, adding to its dividend distributions. That may support shareholder returns. Earnings call highlights: buybacks and production outlook
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, payable January 5, 2027. Improved Horizon reliability and strong thermal production also underpin a more favorable fourth-quarter outlook. Quarterly dividend announcement Production outlook and reliability update
• Neutral Sentiment: Quarterly revenue of C$8.74 billion narrowly missed analysts’ C$8.79 billion estimate, despite the earnings beat. That modest shortfall may have tempered the market response. CNQ quarterly earnings report

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. Its operations span several resource types and production methods, including oil sands mining and upgrading, thermal in situ projects, conventional oil and gas production, and offshore assets.

The company’s principal operating areas are in Western Canada, the United Kingdom’s North Sea and offshore Africa.