Canadian Natural Resources (CNQ) Stock Rating Reaffirmed by Raymond James

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ)‘s stock had its “buy” rating restated by equities researchers at Raymond James in a report released on Friday, TipRanks reports.

A number of other research firms also recently weighed in on CNQ. Royal Bank of Canada reaffirmed an “average” rating and set a $45.00 price target on shares of Canadian Natural Resources in a research report on Friday. Mizuho initiated coverage on Canadian Natural Resources in a report on Monday, March 11th. They set a “buy” rating and a $45.00 price objective for the company. Tudor Pickering upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. Scotiabank restated a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, April 2nd. Finally, CIBC restated a “buy” rating on shares of Canadian Natural Resources in a report on Saturday, February 2nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Canadian Natural Resources presently has a consensus rating of “Buy” and a consensus price target of $41.31.

Shares of Canadian Natural Resources stock traded up $0.13 during trading hours on Friday, hitting $28.32. The company’s stock had a trading volume of 1,978,975 shares, compared to its average volume of 2,267,906. Canadian Natural Resources has a 1-year low of $21.85 and a 1-year high of $38.20. The firm has a market capitalization of $33.77 billion, a P/E ratio of 13.17, a PEG ratio of 2.71 and a beta of 1.20. The company has a quick ratio of 0.43, a current ratio of 0.63 and a debt-to-equity ratio of 0.61.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.31. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.90%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, research analysts expect that Canadian Natural Resources will post 1.73 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Zions Bancorporation N.A. purchased a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $28,000. Icon Wealth Partners LLC purchased a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $28,000. IFP Advisors Inc boosted its position in shares of Canadian Natural Resources by 71.7% during the fourth quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 435 shares during the last quarter. Bremer Trust National Association purchased a new position in shares of Canadian Natural Resources during the fourth quarter valued at approximately $28,000. Finally, Bremer Bank National Association purchased a new position in shares of Canadian Natural Resources during the first quarter valued at approximately $34,000. 67.60% of the stock is currently owned by institutional investors.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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