Gerdes Energy Research Downgrades Canadian Natural Resources (TSE:CNQ) to Neutral

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by equities research analysts at Gerdes Energy Research from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, BayStreet.CA reports.

A number of other research analysts have also issued reports on CNQ. Scotiabank cut their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 11th. Jefferies Financial Group reduced their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating for the company in a research note on Monday, September 16th. Desjardins lifted their price target on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. TD Securities cut their price objective on Canadian Natural Resources from C$60.00 to C$56.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Royal Bank of Canada decreased their target price on Canadian Natural Resources from C$62.00 to C$59.00 in a report on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$85.81.

Canadian Natural Resources Stock Up 0.8 %

Canadian Natural Resources stock opened at C$48.22 on Friday. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The business has a fifty day moving average price of C$46.98 and a 200-day moving average price of C$71.39. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The stock has a market capitalization of C$102.71 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The business had revenue of C$9.05 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Equities research analysts forecast that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

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).