Canadian Natural Resources (NYSE:CNQ) Rating Lowered to In-Line at Evercore ISI

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by equities research analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Tuesday.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $62.00 price target on shares of Canadian Natural Resources in a report on Wednesday, September 24th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, September 30th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. Five investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.50.

Canadian Natural Resources Trading Down 6.2%

Shares of Canadian Natural Resources stock opened at $32.21 on Tuesday. Canadian Natural Resources has a 1-year low of $24.65 and a 1-year high of $35.12. The company’s fifty day simple moving average is $32.93 and its 200-day simple moving average is $31.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.86 and a quick ratio of 0.53. The stock has a market capitalization of $67.08 billion, a PE ratio of 14.25 and a beta of 0.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, November 6th. The oil and gas producer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.During the same period last year, the firm earned $0.97 EPS. As a group, equities analysts anticipate that Canadian Natural Resources will post 2.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sagespring Wealth Partners LLC bought a new position in Canadian Natural Resources in the 2nd quarter worth about $361,000. Vanguard Group Inc. boosted its holdings in shares of Canadian Natural Resources by 3.4% in the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock valued at $2,852,024,000 after purchasing an additional 3,003,542 shares during the period. Journey Advisory Group LLC bought a new position in Canadian Natural Resources in the second quarter worth approximately $2,458,000. TD Asset Management Inc increased its holdings in Canadian Natural Resources by 0.8% during the 2nd quarter. TD Asset Management Inc now owns 41,581,125 shares of the oil and gas producer’s stock worth $1,304,267,000 after purchasing an additional 316,933 shares during the period. Finally, Addenda Capital Inc. increased its holdings in Canadian Natural Resources by 11.0% during the 2nd quarter. Addenda Capital Inc. now owns 2,370,885 shares of the oil and gas producer’s stock worth $74,446,000 after purchasing an additional 235,198 shares during the period. Institutional investors own 74.03% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.