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

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $62.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price objective points to a potential upside of 103.45% from the stock’s previous close.

Separately, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.00.

Canadian Natural Resources Trading Up 1.2 %

Shares of CNQ stock traded up $0.36 during trading hours on Tuesday, reaching $30.48. 5,458,071 shares of the stock were exchanged, compared to its average volume of 5,988,657. Canadian Natural Resources has a 12-month low of $28.65 and a 12-month high of $41.29. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $30.99 and its 200-day moving average price is $33.30. The firm has a market capitalization of $64.09 billion, a price-to-earnings ratio of 11.83 and a beta of 1.45.

Institutional Investors Weigh In On Canadian Natural Resources

Several large investors have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Canadian Natural Resources by 8.7% in 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 purchasing an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Canadian Natural Resources by 0.5% in 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 purchasing an additional 456,814 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Canadian Natural Resources by 1.3% in 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 purchasing an additional 550,242 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Canadian Natural Resources by 5.3% in 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 purchasing an additional 1,844,700 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Canadian Natural Resources by 7.3% in 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 purchasing an additional 2,312,437 shares in 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).