Canadian Natural Resources (NYSE:CNQ) Rating Lowered to “Hold” at Tudor Pickering

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by investment analysts at Tudor Pickering from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $30.02 on Monday. The firm has a market cap of $63.14 billion, a PE ratio of 11.66 and a beta of 1.45. The stock has a 50 day moving average of $31.14 and a 200 day moving average of $33.40. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a 12 month low of $28.65 and a 12 month high of $41.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in Canadian Natural Resources by 6,902.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock valued at $112,763,000 after purchasing an additional 3,600,686 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Canadian Natural Resources by 73.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock valued at $260,116,000 after buying an additional 3,312,442 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Canadian Natural Resources by 31.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after acquiring an additional 3,224,548 shares during the last quarter. National Bank of Canada FI grew its position in Canadian Natural Resources by 63.5% in the third quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock worth $273,417,000 after acquiring an additional 3,198,007 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Canadian Natural Resources by 30.1% in the fourth quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other 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).