Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) had its target price cut by equities researchers at Morgan Stanley from $64.00 to $60.00 in a report released on Friday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price would indicate a potential upside of 106.61% from the stock’s previous close.
A number of other analysts also recently issued reports on the stock. ValuEngine downgraded shares of Canadian Natural Resource from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research downgraded shares of Canadian Natural Resource from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Royal Bank of Canada downgraded shares of Canadian Natural Resource from a “top pick” rating to an “outperform” rating and set a $38.40 price objective on the stock. in a report on Thursday, September 20th. They noted that the move was a valuation call. Evercore ISI started coverage on shares of Canadian Natural Resource in a report on Wednesday, June 27th. They issued an “inline” rating on the stock. Finally, CIBC started coverage on shares of Canadian Natural Resource in a report on Friday, October 5th. They issued a “sector outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.68.
NYSE CNQ opened at $29.04 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 1.02. Canadian Natural Resource has a 12-month low of $28.76 and a 12-month high of $38.20. The company has a market capitalization of $39.79 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 2.35 and a beta of 1.23.
Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.50. Canadian Natural Resource had a net margin of 12.34% and a return on equity of 8.35%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the company earned $0.29 earnings per share. On average, analysts predict that Canadian Natural Resource will post 2.58 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Canadian Natural Resource during the third quarter worth $153,000. Ostrum Asset Management acquired a new position in Canadian Natural Resource during the first quarter worth $168,000. Cubist Systematic Strategies LLC increased its holdings in Canadian Natural Resource by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 1,800 shares during the last quarter. Worth Venture Partners LLC acquired a new position in Canadian Natural Resource during the first quarter worth $225,000. Finally, Signaturefd LLC increased its holdings in Canadian Natural Resource by 49.7% during the second quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after buying an additional 2,323 shares during the last quarter. Institutional investors and hedge funds own 66.89% 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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