Canadian Natural Resources Limited (NYSE:CNQ) Receives $62.00 Consensus PT from Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been assigned an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $62.00.

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target on shares of Canadian Natural Resources in a research report on Tuesday. Tudor Pickering cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ opened at $30.40 on Thursday. The business’s fifty day moving average price is $30.92 and its two-hundred day moving average price is $33.26. Canadian Natural Resources has a fifty-two week low of $28.65 and a fifty-two week high of $41.29. The stock has a market capitalization of $63.89 billion, a price-to-earnings ratio of 11.80 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Institutional Trading of Canadian Natural Resources

Several large investors have recently made changes to their positions in CNQ. AQR Capital Management LLC acquired a new position in shares of Canadian Natural Resources during the second quarter valued at $276,000. Creative Planning grew its holdings in shares of Canadian Natural Resources by 15.8% during the third quarter. Creative Planning now owns 92,067 shares of the oil and gas producer’s stock worth $3,058,000 after buying an additional 12,570 shares in the last quarter. Jamison Private Wealth Management Inc. bought a new position in shares of Canadian Natural Resources during the third quarter worth about $179,000. Baskin Financial Services Inc. grew its stake in Canadian Natural Resources by 1.5% in the third quarter. Baskin Financial Services Inc. now owns 985,280 shares of the oil and gas producer’s stock valued at $32,696,000 after purchasing an additional 14,812 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Canadian Natural Resources by 1,505.5% in the third quarter. Global Retirement Partners LLC now owns 11,479 shares of the oil and gas producer’s stock valued at $381,000 after purchasing an additional 10,764 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

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).