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

Royal Bank of Canada reissued their outperform rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a report released on Tuesday morning,Benzinga reports. The firm currently has a $62.00 target price on the oil and gas producer’s stock.

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

Canadian Natural Resources Stock Performance

CNQ opened at $30.69 on Tuesday. Canadian Natural Resources has a 52-week low of $28.65 and a 52-week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $64.52 billion, a P/E ratio of 11.92 and a beta of 1.45. The firm’s 50-day moving average price is $30.90 and its 200-day moving average price is $33.24.

Hedge Funds Weigh In On Canadian Natural Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Duncker Streett & Co. Inc. acquired a new position in Canadian Natural Resources in the 4th quarter worth approximately $25,000. Lee Danner & Bass Inc. acquired a new position in Canadian Natural Resources in the 4th quarter worth approximately $25,000. Continuum Advisory LLC increased its holdings in Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the period. Sandy Spring Bank acquired a new position in Canadian Natural Resources in the 4th quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust acquired a new position in Canadian Natural Resources in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

About Canadian Natural Resources

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).