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

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $62.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 103.45% from the company’s previous close.

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

Canadian Natural Resources Stock Up 1.2 %

Shares of NYSE CNQ traded up $0.36 during trading hours on Tuesday, hitting $30.48. 5,458,071 shares of the stock were exchanged, compared to its average volume of 5,988,657. 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 $64.09 billion, a PE ratio of 11.83 and a beta of 1.45. The firm has a fifty day moving average price of $30.99 and a 200-day moving average price of $33.30. Canadian Natural Resources has a 12 month low of $28.65 and a 12 month high of $41.29.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after acquiring an additional 7,372,718 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Canadian Natural Resources by 6,902.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after acquiring an additional 3,600,686 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Canadian Natural Resources by 73.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock valued at $260,116,000 after acquiring an additional 3,312,442 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after acquiring an additional 3,224,548 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Canadian Natural Resources by 63.5% during the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after buying an additional 3,198,007 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

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).