Canadian Natural Resources’ (CNQ) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research report report published on Tuesday,Benzinga reports. They currently have a $62.00 target price on the oil and gas producer’s stock.

Separately, Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and an average target price of $62.00.

Canadian Natural Resources Price Performance

NYSE:CNQ opened at $30.48 on Tuesday. The business’s 50-day moving average price is $30.99 and its 200 day moving average price is $33.30. The firm has a market cap of $64.09 billion, a P/E ratio of 11.83 and a beta of 1.45. Canadian Natural Resources has a 52-week low of $28.65 and a 52-week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Canadian Natural Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in Canadian Natural Resources by 8.7% during the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Canadian Natural Resources by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock valued at $2,778,729,000 after buying an additional 456,814 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Canadian Natural Resources by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after buying an additional 550,242 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Canadian Natural Resources by 5.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock valued at $1,139,753,000 after buying an additional 1,844,700 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Canadian Natural Resources by 7.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock valued at $1,051,210,000 after buying an additional 2,312,437 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.

About Canadian Natural Resources

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).