Canadian Natural Resources (NYSE:CNQ) Downgraded to “Sell” Rating by Wall Street Zen

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

A number of other research firms have also issued reports on CNQ. TD Securities reiterated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Canadian Natural Resources in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. The Goldman Sachs Group set a $35.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday, January 2nd. Finally, Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, October 16th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.50.

Canadian Natural Resources Trading Up 1.7%

NYSE CNQ opened at $32.08 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.53 and a current ratio of 0.86. The firm has a market cap of $66.83 billion, a price-to-earnings ratio of 14.20 and a beta of 0.69. The firm has a 50 day simple moving average of $32.90 and a 200-day simple moving average of $31.90. Canadian Natural Resources has a one year low of $24.65 and a one year high of $35.12.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.81 billion. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. During the same period in the prior year, the business earned $0.97 EPS. Equities research analysts anticipate that Canadian Natural Resources will post 2.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Natural Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tacita Capital Inc grew its position in shares of Canadian Natural Resources by 6.1% during the third quarter. Tacita Capital Inc now owns 5,753 shares of the oil and gas producer’s stock worth $184,000 after acquiring an additional 330 shares during the last quarter. Haven Private LLC increased its position in Canadian Natural Resources by 3.4% during the 2nd quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock worth $365,000 after purchasing an additional 383 shares during the period. King Luther Capital Management Corp raised its position in Canadian Natural Resources by 1.2% in the second quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after acquiring an additional 387 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of Canadian Natural Resources by 2.2% in the third quarter. Frank Rimerman Advisors LLC now owns 17,886 shares of the oil and gas producer’s stock valued at $572,000 after purchasing an additional 390 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Canadian Natural Resources by 9.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,939 shares of the oil and gas producer’s stock worth $158,000 after acquiring an additional 426 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.