Royal Bank of Canada Increases Canadian Natural Resources (NYSE:CNQ) Price Target to $63.00

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price target hoisted by equities researchers at Royal Bank of Canada from $62.00 to $63.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Royal Bank of Canada’s price target indicates a potential upside of 122.35% from the stock’s previous close.

Several other research firms have also recently issued reports on CNQ. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $28.33 on Friday. The company has a 50-day simple moving average of $30.46 and a 200-day simple moving average of $32.69. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $59.56 billion, a PE ratio of 11.00 and a beta of 1.48. Canadian Natural Resources has a 52-week low of $25.62 and a 52-week high of $41.29.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. acquired a new stake in Canadian Natural Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $25,000. Continuum Advisory LLC raised its holdings in Canadian Natural Resources by 144.1% during the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the period. Hurley Capital LLC acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $31,000. Finally, Coastline Trust Co acquired a new stake in Canadian Natural Resources during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).