Canadian Natural Resources Limited (NYSE:CNQ) Receives Consensus Recommendation of “Hold” from Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been given an average rating of “Hold” by the eleven analysts that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $48.50.

Several research analysts have weighed in on the company. Wall Street Zen raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. The Goldman Sachs Group set a $35.00 price objective on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Friday, January 2nd. Finally, Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $42.33 on Tuesday. The company has a market capitalization of $88.11 billion, a PE ratio of 18.73 and a beta of 0.68. The company has a quick ratio of 0.53, a current ratio of 0.86 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $35.73 and its 200-day moving average price is $33.25. Canadian Natural Resources has a twelve month low of $24.65 and a twelve month high of $43.15.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Canadian Natural Resources in the 4th quarter valued at about $25,000. Addison Advisors LLC lifted its holdings in Canadian Natural Resources by 309.1% during the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 677 shares during the last quarter. Manchester Capital Management LLC bought a new position in Canadian Natural Resources during the fourth quarter worth about $28,000. Leonteq Securities AG purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth about $31,000. Finally, St. Johns Investment Management Company LLC bought a new stake in shares of Canadian Natural Resources in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

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.