Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $38.00 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.20% from the stock’s previous close.

According to Zacks, “Canadian Natural Resources Limited is a senior independent oil and natural gas exploration, development and production company based in Calgary, Alberta. The Company’s operations are focused in Western Canada, the North Sea and Offshore West Africa. “

CNQ has been the topic of several other reports. National Bank Financial started coverage on Canadian Natural Resources Limited in a report on Tuesday, June 27th. They set an “outperform” rating on the stock. Morgan Stanley upgraded Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a report on Wednesday, July 19th. BidaskClub upgraded Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. ValuEngine upgraded Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Citigroup Inc. lowered Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Canadian Natural Resources Limited has a consensus rating of “Buy” and a consensus price target of $46.45.

Canadian Natural Resources Limited (NYSE:CNQ) traded down 0.80% during midday trading on Wednesday, hitting $33.57. The stock had a trading volume of 1,250,426 shares. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28. The company’s 50-day moving average price is $32.25 and its 200 day moving average price is $31.13. The stock has a market cap of $40.79 billion, a P/E ratio of 29.32 and a beta of 1.47.

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Several institutional investors have recently bought and sold shares of CNQ. FTB Advisors Inc. increased its stake in shares of Canadian Natural Resources Limited by 1.3% in the second quarter. FTB Advisors Inc. now owns 3,180 shares of the oil and gas producer’s stock worth $102,000 after purchasing an additional 41 shares during the period. Fiduciary Trust Co. bought a new position in shares of Canadian Natural Resources Limited in the second quarter worth about $126,000. Greenleaf Trust bought a new position in shares of Canadian Natural Resources Limited in the second quarter worth about $204,000. Oxford Asset Management bought a new position in shares of Canadian Natural Resources Limited in the first quarter worth about $212,000. Finally, RMB Capital Management LLC bought a new position in shares of Canadian Natural Resources Limited in the first quarter worth about $215,000. Institutional investors and hedge funds own 58.56% 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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