Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by equities research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage presently has a $44.00 price objective on the oil and gas producer's stock, up from their prior price objective of $38.00. The Goldman Sachs Group's target price points to a potential upside of 19.02% from the stock's current price.
Several other brokerages also recently weighed in on CNQ. BMO Capital Markets increased their target price on Canadian Natural Resources from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, March 5th. TD Securities increased their target price on Canadian Natural Resources from $39.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, March 5th. Barclays reaffirmed a "buy" rating and set a $49.00 price target on shares of Canadian Natural Resources in a report on Friday, April 2nd. Desjardins increased their price objective on Canadian Natural Resources from $38.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, March 8th. Finally, Royal Bank of Canada raised their price target on Canadian Natural Resources from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, May 7th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of "Buy" and a consensus target price of $45.12.
Shares of CNQ stock opened at $36.97 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.63 and a current ratio of 0.81. Canadian Natural Resources has a fifty-two week low of $14.85 and a fifty-two week high of $38.00. The business has a 50-day moving average price of $32.81. The firm has a market cap of $43.81 billion, a price-to-earnings ratio of 25.15 and a beta of 1.87.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board raised its holdings in shares of Canadian Natural Resources by 33.3% during the first quarter. Canada Pension Plan Investment Board now owns 29,361,159 shares of the oil and gas producer's stock valued at $907,489,000 after purchasing an additional 7,331,600 shares during the last quarter. Yacktman Asset Management LP bought a new position in shares of Canadian Natural Resources during the first quarter worth $206,786,000. Boston Partners boosted its position in shares of Canadian Natural Resources by 228.8% during the fourth quarter. Boston Partners now owns 6,293,986 shares of the oil and gas producer's stock worth $151,371,000 after acquiring an additional 4,380,039 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of Canadian Natural Resources by 1,075.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,349,570 shares of the oil and gas producer's stock worth $80,558,000 after acquiring an additional 3,064,496 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Canadian Natural Resources by 33.4% during the first quarter. Toronto Dominion Bank now owns 11,476,643 shares of the oil and gas producer's stock valued at $371,963,000 after purchasing an additional 2,873,979 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.
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 synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.
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