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

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

Canadian Natural Resources Trading Down 2.9 %

Shares of CNQ opened at $30.02 on Monday. The company’s fifty day simple moving average is $31.14 and its 200-day simple moving average is $33.40. The company has a market cap of $63.14 billion, a P/E ratio of 11.66 and a beta of 1.45. 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 twelve month low of $28.65 and a twelve month high of $41.29.

Institutional Trading of Canadian Natural Resources

Several institutional investors have recently added to or reduced their stakes in CNQ. Vanguard Group Inc. raised its holdings in shares of Canadian Natural Resources by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock worth $2,778,729,000 after buying an additional 456,814 shares during the period. Fisher Asset Management LLC grew its position in Canadian Natural Resources by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after acquiring an additional 550,242 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Canadian Natural Resources by 5.1% in the third quarter. The Manufacturers Life Insurance Company now owns 28,468,127 shares of the oil and gas producer’s stock worth $945,965,000 after purchasing an additional 1,383,478 shares during the period. CIBC Asset Management Inc increased its stake in Canadian Natural Resources by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer’s stock worth $746,025,000 after purchasing an additional 1,270,945 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Canadian Natural Resources by 4.5% during the fourth quarter. JPMorgan Chase & Co. now owns 13,893,962 shares of the oil and gas producer’s stock worth $428,907,000 after purchasing an additional 603,314 shares during 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).