Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) had its price objective hoisted by stock analysts at Morgan Stanley from $52.00 to $58.00 in a note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective suggests a potential upside of 60.98% from the stock’s previous close.
Several other research firms have also weighed in on CNQ. AltaCorp Capital restated a “buy” rating and set a $52.00 price objective on shares of Canadian Natural Resource in a research note on Monday, January 15th. Zacks Investment Research upgraded shares of Canadian Natural Resource from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, January 9th. Finally, Canaccord Genuity restated a “buy” rating and set a $53.00 price objective on shares of Canadian Natural Resource in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $47.75.
Shares of Canadian Natural Resource (NYSE:CNQ) traded up $0.08 during mid-day trading on Wednesday, reaching $36.03. 1,417,484 shares of the company’s stock traded hands, compared to its average volume of 2,090,000. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 0.67. Canadian Natural Resource has a 12-month low of $27.52 and a 12-month high of $37.63. The firm has a market cap of $43,930.00, a price-to-earnings ratio of 20.02, a P/E/G ratio of 3.18 and a beta of 1.46.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. Canadian Natural Resource had a return on equity of 4.68% and a net margin of 16.71%. equities analysts expect that Canadian Natural Resource will post 0.79 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. FTB Advisors Inc. boosted its holdings in Canadian Natural Resource by 1.3% in the 2nd quarter. FTB Advisors Inc. now owns 3,180 shares of the oil and gas producer’s stock valued at $102,000 after purchasing an additional 41 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Canadian Natural Resource by 12.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,903 shares of the oil and gas producer’s stock valued at $259,000 after purchasing an additional 763 shares during the period. Eagle Ridge Investment Management boosted its holdings in Canadian Natural Resource by 4.3% in the 4th quarter. Eagle Ridge Investment Management now owns 34,741 shares of the oil and gas producer’s stock valued at $1,241,000 after purchasing an additional 1,432 shares during the period. Private Advisor Group LLC boosted its holdings in Canadian Natural Resource by 19.7% in the 3rd quarter. Private Advisor Group LLC now owns 9,180 shares of the oil and gas producer’s stock valued at $303,000 after purchasing an additional 1,508 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Canadian Natural Resource by 6.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 38,488 shares of the oil and gas producer’s stock valued at $1,290,000 after purchasing an additional 2,407 shares during the period. 59.08% of the stock is owned by institutional investors and hedge funds.
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About Canadian Natural Resource
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.