Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its target price upped by analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 53.90% from the company’s current price.
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A number of other brokerages have also commented on CNQ. Zacks Investment Research lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a report on Monday, July 22nd. Tudor Pickering lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. ValuEngine raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Monday, September 16th. Royal Bank of Canada decreased their price objective on Canadian Natural Resources from $45.00 to $42.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Goldman Sachs Group set a $29.00 price objective on Canadian Natural Resources and gave the stock a “hold” rating in a report on Friday, September 27th. 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 stock. Canadian Natural Resources currently has an average rating of “Buy” and an average target price of $40.92.
CNQ traded down $0.14 during midday trading on Friday, reaching $27.94. 1,697,260 shares of the company were exchanged, compared to its average volume of 2,733,854. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. The company’s fifty day moving average price is $26.00 and its 200 day moving average price is $26.19. The company has a market cap of $31.35 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16. Canadian Natural Resources has a one year low of $21.85 and a one year high of $31.77.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.44. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.46 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same period in the previous year, the company posted $1.11 EPS. As a group, sell-side analysts anticipate that Canadian Natural Resources will post 2.35 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its stake in shares of 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 worth $36,000 after buying an additional 1,036 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Canadian Natural Resources in the second quarter valued at approximately $40,000. Lindbrook Capital LLC lifted its stake in Canadian Natural Resources by 205.1% in the third quarter. Lindbrook Capital LLC now owns 2,288 shares of the oil and gas producer’s stock valued at $61,000 after purchasing an additional 1,538 shares during the last quarter. SG3 Management LLC purchased a new position in Canadian Natural Resources in the second quarter valued at approximately $65,000. Finally, Whittier Trust Co. lifted its stake in Canadian Natural Resources by 1,309.9% in the third quarter. Whittier Trust Co. now owns 5,287 shares of the oil and gas producer’s stock valued at $141,000 after purchasing an additional 4,912 shares during the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.
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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