Canadian Natural Resources Limited (NYSE:CNQ) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $48.50.

Several equities research analysts recently weighed in on CNQ shares. The Goldman Sachs Group set a $35.00 price objective on Canadian Natural Resources and gave the company a “buy” rating in a report on Friday, January 2nd. Evercore downgraded Canadian Natural Resources from an “outperform” rating to an “in-line” rating in a research report on Tuesday, January 6th. Zacks Research cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Wall Street Zen upgraded shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th.

Institutional Trading of Canadian Natural Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Canadian Natural Resources by 3.4% in the second quarter. Vanguard Group Inc. now owns 90,742,099 shares of the oil and gas producer’s stock valued at $2,852,024,000 after purchasing an additional 3,003,542 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Canadian Natural Resources by 2.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,616,219 shares of the oil and gas producer’s stock valued at $51,654,000 after buying an additional 43,356 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Canadian Natural Resources by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,716,038 shares of the oil and gas producer’s stock valued at $54,883,000 after acquiring an additional 33,609 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Canadian Natural Resources by 9.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 89,973 shares of the oil and gas producer’s stock worth $2,825,000 after acquiring an additional 8,078 shares during the last quarter. Finally, Intact Investment Management Inc. grew its stake in shares of Canadian Natural Resources by 9.1% in the 3rd quarter. Intact Investment Management Inc. now owns 1,718,220 shares of the oil and gas producer’s stock worth $54,946,000 after acquiring an additional 143,550 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Down 0.2%

Shares of Canadian Natural Resources stock opened at $42.33 on Tuesday. The firm has a market capitalization of $88.11 billion, a PE ratio of 18.73 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $35.73 and its 200 day moving average is $33.25. Canadian Natural Resources has a 1 year low of $24.65 and a 1 year high of $43.15.

About Canadian Natural Resources

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.