Canadian Natural Resources (NYSE:CNQ) Lowered to "Hold" at Desjardins

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ was downgraded by analysts at Desjardins from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday, MarketBeat reports.

Separately, JPMorgan Chase & Co. lifted their price objective on Canadian Natural Resources from $101.00 to $102.00 and gave the company a "neutral" rating in a research report on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of "Hold" and a consensus target price of $94.00.

Canadian Natural Resources Stock Performance

CNQ traded up $0.31 during trading on Tuesday, hitting $77.08. The company's stock had a trading volume of 3,421,367 shares, compared to its average volume of 3,337,046. Canadian Natural Resources has a one year low of $52.66 and a one year high of $82.58. The business's 50 day simple moving average is $73.20 and its 200-day simple moving average is $67.55. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. The firm has a market cap of $82.64 billion, a PE ratio of 13.91 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last announced its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. The company had revenue of $7.02 billion for the quarter, compared to analysts' expectations of $6.73 billion. As a group, sell-side analysts predict that Canadian Natural Resources will post 5.7 EPS for the current fiscal year.

Institutional Trading of Canadian Natural Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new stake in Canadian Natural Resources in the 3rd quarter valued at $494,000. CWM LLC increased its holdings in shares of Canadian Natural Resources by 52.0% in the third quarter. CWM LLC now owns 2,559 shares of the oil and gas producer's stock worth $165,000 after purchasing an additional 875 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Canadian Natural Resources by 5.0% in the third quarter. SG Americas Securities LLC now owns 40,333 shares of the oil and gas producer's stock worth $2,619,000 after buying an additional 1,938 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Canadian Natural Resources by 238.1% during the third quarter. Washington Trust Advisors Inc. now owns 1,136 shares of the oil and gas producer's stock valued at $73,000 after buying an additional 800 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Canadian Natural Resources during the 3rd quarter valued at approximately $230,000. Institutional investors own 74.03% 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 light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).