Canadian Natural Resources (NYSE:CNQ) Upgraded at Zacks Research

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on CNQ. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, August 8th. Scotiabank reiterated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada decreased their price objective on shares of Canadian Natural Resources from $64.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Canadian Natural Resources Trading Up 2.6%

CNQ opened at $31.28 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources has a fifty-two week low of $24.65 and a fifty-two week high of $37.91. The firm has a market capitalization of $65.35 billion, a PE ratio of 11.09 and a beta of 1.05. The company’s 50-day moving average is $31.25 and its 200 day moving average is $30.32.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $8.97 billion. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. During the same quarter in the prior year, the business posted $0.88 EPS. As a group, research analysts predict that Canadian Natural Resources will post 2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. MAI Capital Management boosted its holdings in Canadian Natural Resources by 9.6% in the 1st quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock worth $134,000 after buying an additional 382 shares during the period. Haven Private LLC boosted its holdings in Canadian Natural Resources by 3.4% in the 2nd quarter. Haven Private LLC now owns 11,617 shares of the oil and gas producer’s stock worth $365,000 after buying an additional 383 shares during the period. King Luther Capital Management Corp boosted its holdings in Canadian Natural Resources by 1.2% in the 2nd quarter. King Luther Capital Management Corp now owns 32,283 shares of the oil and gas producer’s stock worth $1,014,000 after buying an additional 387 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Canadian Natural Resources by 5.7% in the 2nd quarter. Kingsview Wealth Management LLC now owns 8,109 shares of the oil and gas producer’s stock worth $255,000 after buying an additional 434 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Canadian Natural Resources by 8.7% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock worth $176,000 after buying an additional 448 shares during the period. 74.03% of the stock is owned by 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).