Canadian Natural Resource (CNQ) Cut to Neutral at Macquarie

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) was downgraded by research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, The Fly reports.

Several other brokerages have also recently commented on CNQ. ValuEngine cut Canadian Natural Resource from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised Canadian Natural Resource from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday, July 3rd. Evercore ISI began coverage on Canadian Natural Resource in a research report on Wednesday, June 27th. They set an “inline” rating for the company. Royal Bank of Canada cut Canadian Natural Resource from a “top pick” rating to an “outperform” rating and set a $38.40 target price for the company. in a research report on Thursday, September 20th. They noted that the move was a valuation call. Finally, CIBC began coverage on Canadian Natural Resource in a research report on Friday. They set a “sector outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.48.

Shares of NYSE CNQ opened at $31.66 on Tuesday. The company has a market capitalization of $39.79 billion, a P/E ratio of 38.14, a PEG ratio of 2.35 and a beta of 1.23. Canadian Natural Resource has a 52 week low of $29.20 and a 52 week high of $38.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.02 and a quick ratio of 0.81.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 2nd. The oil and gas producer reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.50. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Canadian Natural Resource had a return on equity of 8.35% and a net margin of 12.34%. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, equities analysts forecast that Canadian Natural Resource will post 2.58 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Ostrum Asset Management acquired a new position in shares of Canadian Natural Resource during the first quarter worth approximately $168,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Canadian Natural Resource by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 1,800 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Canadian Natural Resource by 49.7% during the second quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after buying an additional 2,323 shares during the last quarter. Worth Venture Partners LLC acquired a new position in shares of Canadian Natural Resource during the first quarter worth approximately $225,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Canadian Natural Resource by 192.9% during the second quarter. Acadian Asset Management LLC now owns 8,200 shares of the oil and gas producer’s stock worth $296,000 after buying an additional 5,400 shares during the last quarter. 66.89% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resource Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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