Wall Street Zen Upgrades Canadian Natural Resources (NYSE:CNQ) to “Hold”

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research analysts have also recently weighed in on the company. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 19th. The Goldman Sachs Group set a $35.00 target price on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday, January 2nd. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Monday, November 24th. Evercore ISI downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a report on Tuesday, January 6th. Finally, Wells Fargo & Company raised shares of Canadian Natural Resources to a “hold” rating in a research report on Thursday, October 16th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.50.

Canadian Natural Resources Trading Down 1.8%

Shares of CNQ stock opened at $37.20 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 company has a market capitalization of $77.44 billion, a price-to-earnings ratio of 16.46 and a beta of 0.69. Canadian Natural Resources has a 52-week low of $24.65 and a 52-week high of $38.32. The company has a 50-day simple moving average of $33.69 and a two-hundred day simple moving average of $32.26.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Canadian Natural Resources had a net margin of 14.90% and a return on equity of 18.93%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the firm earned $0.97 EPS. Research analysts anticipate that Canadian Natural Resources will post 2.45 EPS for the current fiscal year.

Institutional Trading of Canadian Natural Resources

A number of institutional investors have recently modified their holdings of CNQ. Joel Isaacson & Co. LLC grew its stake in Canadian Natural Resources by 16.1% in the 4th quarter. Joel Isaacson & Co. LLC now owns 33,714 shares of the oil and gas producer’s stock valued at $1,141,000 after buying an additional 4,664 shares in the last quarter. ARGA Investment Management LP lifted its position in shares of Canadian Natural Resources by 20.9% during the fourth quarter. ARGA Investment Management LP now owns 145,811 shares of the oil and gas producer’s stock worth $4,936,000 after acquiring an additional 25,199 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Canadian Natural Resources by 42.6% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 67,894 shares of the oil and gas producer’s stock worth $2,318,000 after acquiring an additional 20,288 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Canadian Natural Resources by 21.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 269,948 shares of the oil and gas producer’s stock valued at $9,138,000 after purchasing an additional 47,098 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Canadian Natural Resources by 3.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 706,332 shares of the oil and gas producer’s stock valued at $23,956,000 after purchasing an additional 21,392 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

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.