Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) was downgraded by equities research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.

Several other research analysts have also weighed in on CNQ. TheStreet raised Canadian Natural Resources Limited from a “d+” rating to a “c-” rating in a research report on Wednesday, April 12th. Zacks Investment Research raised Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Friday, May 5th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $36.00 price target on shares of Canadian Natural Resources Limited in a research report on Thursday, June 22nd. National Bank Financial started coverage on Canadian Natural Resources Limited in a research report on Tuesday, June 27th. They set an “outperform” rating on the stock. Finally, BidaskClub raised Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $46.58.

Shares of Canadian Natural Resources Limited (CNQ) opened at 30.36 on Friday. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 291.92 and a beta of 1.47. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28. The firm has a 50-day moving average price of $28.92 and a 200-day moving average price of $30.67.

Canadian Natural Resources Limited announced that its board has initiated a stock repurchase program on Wednesday, May 17th that authorizes the company to buyback 27,930,000 shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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Hedge funds have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC bought a new stake in Canadian Natural Resources Limited during the first quarter valued at about $103,000. Quadrant Capital Group LLC increased its stake in Canadian Natural Resources Limited by 87.1% in the first quarter. Quadrant Capital Group LLC now owns 3,737 shares of the oil and gas producer’s stock valued at $113,000 after buying an additional 1,740 shares during the period. Acadian Asset Management LLC increased its stake in Canadian Natural Resources Limited by 2,400.0% in the first quarter. Acadian Asset Management LLC now owns 5,000 shares of the oil and gas producer’s stock valued at $163,000 after buying an additional 4,800 shares during the period. Private Advisor Group LLC bought a new stake in Canadian Natural Resources Limited during the first quarter valued at about $205,000. Finally, ARP Americas LLC bought a new stake in Canadian Natural Resources Limited during the first quarter valued at about $211,000. Institutional investors own 65.61% of the company’s stock.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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