Canadian Natural Resources Limited (NYSE:CNQ) Given Average Recommendation of “Hold” by Brokerages

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have earned a consensus recommendation of “Hold” from the four ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $51.00.

Separately, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at $31.36 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a 12 month low of $29.23 and a 12 month high of $41.29. The company’s fifty day moving average is $32.74 and its 200-day moving average is $34.25. The firm has a market cap of $66.07 billion, a price-to-earnings ratio of 12.18 and a beta of 1.47.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.30. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period last year, the company earned $0.96 earnings per share. Equities analysts expect that Canadian Natural Resources will post 2.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CNQ. Moloney Securities Asset Management LLC grew its position in Canadian Natural Resources by 5.4% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 7,302 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 376 shares during the last quarter. Measured Wealth Private Client Group LLC lifted its position in Canadian Natural Resources by 4.1% in the third quarter. Measured Wealth Private Client Group LLC now owns 10,158 shares of the oil and gas producer’s stock worth $337,000 after purchasing an additional 404 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 4.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares during the period. Pitcairn Co. boosted its position in shares of Canadian Natural Resources by 1.3% during the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock valued at $1,209,000 after acquiring an additional 475 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 490 shares during the period. 74.03% of the stock is owned by institutional investors.

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).