Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) was upgraded by research analysts at Desjardins to a “hold” rating in a research note issued on Thursday,Zacks.com reports.
CNQ has been the subject of a number of other research reports. Weiss Ratings cut shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Raymond James Financial raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.00.
Check Out Our Latest Stock Analysis on Canadian Natural Resources
Canadian Natural Resources Stock Performance
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.57 billion. Canadian Natural Resources had a return on equity of 17.49% and a net margin of 22.04%.During the same period in the prior year, the firm posted $1.16 EPS. Research analysts expect that Canadian Natural Resources will post 4.2 EPS for the current year.
Institutional Trading of Canadian Natural Resources
Several large investors have recently modified their holdings of the stock. Cardinal Capital Management Inc. increased its position in shares of Canadian Natural Resources by 82.3% in the second quarter. Cardinal Capital Management Inc. now owns 8,685 shares of the oil and gas producer’s stock worth $343,000 after purchasing an additional 3,920 shares during the period. Steadtrust LLC lifted its position in Canadian Natural Resources by 1.0% during the second quarter. Steadtrust LLC now owns 39,380 shares of the oil and gas producer’s stock worth $1,556,000 after purchasing an additional 400 shares during the period. Wealth Science Advisors LLC lifted its position in Canadian Natural Resources by 129.9% during the second quarter. Wealth Science Advisors LLC now owns 18,028 shares of the oil and gas producer’s stock worth $712,000 after purchasing an additional 10,185 shares during the period. Valeo Financial Advisors LLC grew its stake in Canadian Natural Resources by 28.2% during the second quarter. Valeo Financial Advisors LLC now owns 5,904 shares of the oil and gas producer’s stock worth $233,000 after buying an additional 1,297 shares in the last quarter. Finally, Gradient Investments LLC grew its stake in Canadian Natural Resources by 3.6% during the second quarter. Gradient Investments LLC now owns 23,585 shares of the oil and gas producer’s stock worth $932,000 after buying an additional 819 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.
The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.
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