Canadian Natural Resources (NYSE:CNQ) Rating Increased to Outperform at Evercore ISI

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports.

CNQ has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 target price on shares of Canadian Natural Resources in a research report on Tuesday, February 18th. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources has a consensus rating of “Hold” and an average target price of $62.00.

Canadian Natural Resources Trading Up 1.8 %

Shares of NYSE CNQ opened at $27.93 on Friday. The stock has a market cap of $58.71 billion, a price-to-earnings ratio of 10.85 and a beta of 1.48. The business has a 50 day simple moving average of $30.50 and a 200 day simple moving average of $32.77. Canadian Natural Resources has a 52 week low of $25.62 and a 52 week high of $41.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Moloney Securities Asset Management LLC grew its holdings in shares of Canadian Natural Resources by 5.4% during the third 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. Kingsview Wealth Management LLC grew its holdings in shares of Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after purchasing an additional 419 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Canadian Natural Resources by 51.0% in the fourth quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 429 shares during the last quarter. Assetmark Inc. boosted its holdings in Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 439 shares during the last quarter. Finally, Pitcairn Co. boosted its holdings in Canadian Natural Resources by 1.3% in the third 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 during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

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).