Canadian Natural Resources (NYSE:CNQ) Raised to Moderate Buy at Desjardins

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by stock analysts at Desjardins from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Tuesday, Zacks.com reports.

Other research analysts also recently issued reports about the stock. Scotiabank restated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Wolfe Research assumed coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and an average target price of $49.50.

Canadian Natural Resources Stock Down 0.6 %

Shares of CNQ opened at $36.36 on Tuesday. Canadian Natural Resources has a one year low of $29.45 and a one year high of $41.29. The company has a market cap of $77.37 billion, a P/E ratio of 14.49 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.59. The firm has a 50 day simple moving average of $34.60 and a two-hundred day simple moving average of $36.25.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the business earned $0.43 earnings per share. Research analysts forecast that Canadian Natural Resources will post 2.47 EPS for the current fiscal year.

Institutional Trading of Canadian Natural Resources

Several institutional investors have recently modified their holdings of CNQ. Park Place Capital Corp grew its stake in shares of Canadian Natural Resources by 100.0% in the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. RFP Financial Group LLC grew its stake in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 447 shares during the last quarter. Institutional investors 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).