Canadian Natural Resources (NYSE:CNQ) Research Coverage Started at Wolfe Research

Investment analysts at Wolfe Research initiated coverage on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research report issued on Thursday, StockNewsAPI reports. The brokerage set a “peer perform” rating on the oil and gas producer’s stock.

A number of other research firms have also recently weighed in on CNQ. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.00.

Canadian Natural Resources Stock Down 0.8 %

Shares of NYSE CNQ opened at $35.68 on Thursday. The company has a 50-day moving average of $36.44 and a 200 day moving average of $35.58. Canadian Natural Resources has a 12-month low of $27.92 and a 12-month high of $41.29. The company has a current ratio of 0.88, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. The stock has a market cap of $75.92 billion, a PE ratio of 14.22 and a beta of 1.52.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Canadian Natural Resources had a net margin of 18.21% and a return on equity of 20.58%. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.01 billion. As a group, sell-side analysts predict that Canadian Natural Resources will post 2.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Canadian Natural Resources in the fourth quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its position in Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in Canadian Natural Resources in the first quarter valued at $37,000. Principal Securities Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter valued at $35,000. Finally, LifeSteps Financial Inc. purchased a new stake in Canadian Natural Resources in the first quarter valued at $46,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

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).