Canadian Natural Resources (NYSE:CNQ) Price Target Increased to $44.00 by Analysts at National Bank Financial

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price objective hoisted by National Bank Financial from $43.00 to $44.00 in a research note released on Friday morning, Stock Target Advisor reports. The firm currently has a sector perform rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Canadian Natural Resources from a buy rating to a hold rating and set a $28.00 target price on the stock. in a research note on Monday, July 22nd. Goldman Sachs Group set a $29.00 target price on Canadian Natural Resources and gave the stock a hold rating in a research note on Friday, September 27th. Credit Suisse Group set a $48.00 target price on Canadian Natural Resources and gave the stock a buy rating in a research note on Tuesday, September 10th. Wells Fargo & Co lowered Canadian Natural Resources from a market perform rating to an underperform rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada decreased their target price on Canadian Natural Resources from $45.00 to $42.00 and set a buy rating on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Canadian Natural Resources currently has a consensus rating of Buy and a consensus price target of $40.92.

Shares of NYSE CNQ traded down $0.14 during mid-day trading on Friday, reaching $27.94. 1,697,260 shares of the company’s stock were exchanged, compared to its average volume of 2,733,854. The firm has a market capitalization of $31.35 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $31.77. The company’s 50-day moving average is $26.00 and its 200-day moving average is $26.19.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.44. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, equities analysts predict that Canadian Natural Resources will post 2.35 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Wetherby Asset Management Inc. raised its position in Canadian Natural Resources by 4.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 22,901 shares of the oil and gas producer’s stock valued at $617,000 after purchasing an additional 968 shares in the last quarter. Quadrant Capital Group LLC raised its position in Canadian Natural Resources by 7.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 13,985 shares of the oil and gas producer’s stock valued at $366,000 after purchasing an additional 1,015 shares in the last quarter. Huntington National Bank raised its position in Canadian Natural Resources by 348.8% in the 2nd quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 1,036 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in Canadian Natural Resources by 20.3% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,544 shares of the oil and gas producer’s stock valued at $170,000 after purchasing an additional 1,104 shares in the last quarter. Finally, MML Investors Services LLC raised its position in Canadian Natural Resources by 13.4% in the 2nd quarter. MML Investors Services LLC now owns 9,569 shares of the oil and gas producer’s stock valued at $258,000 after purchasing an additional 1,130 shares in the last quarter. 65.39% of the stock is currently owned by institutional investors.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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