Canadian Natural Resource (CNQ) Earns “Buy” Rating from Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) in a research note released on Friday morning.

A number of other brokerages have also recently weighed in on CNQ. ValuEngine cut Canadian Natural Resource from a hold rating to a sell rating in a research report on Thursday, August 2nd. Zacks Investment Research cut Canadian Natural Resource from a buy rating to a hold rating in a research report on Tuesday, August 28th. CIBC assumed coverage on Canadian Natural Resource in a research report on Friday, October 5th. They issued a sector outperform rating for the company. Macquarie cut Canadian Natural Resource from an outperform rating to a neutral rating in a research report on Tuesday, October 9th. Finally, Morgan Stanley reduced their price target on Canadian Natural Resource from $64.00 to $60.00 and set an overweight rating for the company in a research report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $48.68.

Shares of NYSE:CNQ traded down $0.27 on Friday, reaching $28.64. The company had a trading volume of 4,471,490 shares, compared to its average volume of 4,182,445. Canadian Natural Resource has a twelve month low of $26.90 and a twelve month high of $38.20. The stock has a market capitalization of $34.74 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.03 and a beta of 1.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.02 and a quick ratio of 0.81.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.45. Canadian Natural Resource had a return on equity of 12.40% and a net margin of 15.94%. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, research analysts expect that Canadian Natural Resource will post 2.57 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of CNQ. Legacy Financial Advisors Inc. bought a new position in shares of Canadian Natural Resource in the third quarter worth about $148,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Canadian Natural Resource in the third quarter worth about $153,000. Cubist Systematic Strategies LLC increased its stake in shares of Canadian Natural Resource by 50.0% in the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,800 shares during the period. Checchi Capital Advisers LLC bought a new position in shares of Canadian Natural Resource in the third quarter worth about $212,000. Finally, Signaturefd LLC increased its stake in shares of Canadian Natural Resource by 49.7% in the second quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 2,323 shares during the period. Institutional investors and hedge funds own 67.07% of the company’s stock.

Canadian Natural Resource Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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Analyst Recommendations for Canadian Natural Resource (NYSE:CNQ)

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