Brokerages Set Canadian Natural Resources Limited (NYSE:CNQ) Target Price at $51.00

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been given an average recommendation of “Hold” by the four research firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $51.00.

Separately, Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th.

Institutional Investors Weigh In On Canadian Natural Resources

Several large investors have recently made changes to their positions in CNQ. Continuum Advisory LLC grew its position in Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 490 shares during the period. Coastline Trust Co bought a new position in shares of Canadian Natural Resources during the 3rd quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $37,000. Sound Income Strategies LLC purchased a new stake in shares of Canadian Natural Resources during the 3rd quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. lifted its stake in Canadian Natural Resources by 58.4% in the third quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 528 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Up 0.7 %

CNQ stock opened at $31.57 on Friday. The firm has a market capitalization of $66.51 billion, a PE ratio of 12.26 and a beta of 1.47. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a twelve month low of $29.23 and a twelve month high of $41.29. The stock’s 50 day moving average is $32.66 and its 200-day moving average is $34.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period last year, the business earned $0.96 EPS. Sell-side analysts expect that Canadian Natural Resources will post 2.47 EPS for the current fiscal year.

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).