Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $45.22.

Several analysts have recently issued reports on CNQ shares. Morgan Stanley increased their target price on Canadian Natural Resources Limited from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Zacks Investment Research downgraded Canadian Natural Resources Limited from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. ValuEngine upgraded Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Citigroup Inc. downgraded Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $33.00 in a report on Friday, July 21st. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a “buy” rating and issued a $47.00 price objective on shares of Canadian Natural Resources Limited in a research note on Tuesday, September 5th.

Hedge funds have recently modified their holdings of the stock. Capital World Investors grew its stake in Canadian Natural Resources Limited by 6.0% during the second quarter. Capital World Investors now owns 36,065,983 shares of the oil and gas producer’s stock worth $1,040,707,000 after buying an additional 2,042,846 shares during the period. Vanguard Group Inc. boosted its stake in Canadian Natural Resources Limited by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,244,673 shares of the oil and gas producer’s stock valued at $756,896,000 after acquiring an additional 599,935 shares during the last quarter. TD Asset Management Inc. boosted its stake in Canadian Natural Resources Limited by 0.6% during the 2nd quarter. TD Asset Management Inc. now owns 22,073,306 shares of the oil and gas producer’s stock valued at $636,007,000 after acquiring an additional 136,364 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Canadian Natural Resources Limited by 11.9% during the 2nd quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock valued at $482,767,000 after acquiring an additional 1,780,934 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Canadian Natural Resources Limited by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,762,039 shares of the oil and gas producer’s stock valued at $281,539,000 after acquiring an additional 2,025,045 shares during the last quarter. 59.04% of the stock is owned by hedge funds and other institutional investors.

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About Canadian Natural Resources Limited

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.

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

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