Canadian Natural Resources (NYSE:CNQ) Stock Rating Reaffirmed by Canaccord Genuity

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a report released on Tuesday, AnalystRatings.com reports. They currently have a $53.00 price target on the oil and gas producer’s stock. Canaccord Genuity’s target price points to a potential upside of 91.68% from the company’s current price.

Several other brokerages have also recently issued reports on CNQ. Mizuho started coverage on shares of Dominion Energy in a research note on Monday, March 11th. They set a “neutral” rating and a $76.00 price objective for the company. Evercore ISI cut shares of Suncor Energy from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from C$58.00 to C$54.00 in a research note on Wednesday, April 3rd. Edward Jones cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Zacks Investment Research cut shares of Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. Finally, ValuEngine cut shares of Zagg from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.43.

Shares of CNQ stock traded up $0.02 on Tuesday, reaching $27.65. 153,318 shares of the company were exchanged, compared to its average volume of 2,903,432. The company has a market cap of $33.10 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.15. The firm has a 50-day moving average of $26.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.57 and a current ratio of 0.76. Canadian Natural Resources has a 1 year low of $21.85 and a 1 year high of $37.09.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.31. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. Analysts anticipate that Canadian Natural Resources will post 2.22 EPS for the current year.

Large investors have recently bought and sold shares of the business. Icon Wealth Partners LLC acquired a new position in shares of Canadian Natural Resources in the 1st quarter worth approximately $28,000. Zions Bancorporation N.A. acquired a new position in shares of Canadian Natural Resources in the 1st quarter worth approximately $28,000. Bremer Bank National Association acquired a new position in shares of Canadian Natural Resources in the 1st quarter worth approximately $34,000. Cornerstone Advisors Inc. lifted its holdings in shares of Canadian Natural Resources by 245.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 1,283 shares during the last quarter. Finally, Buffington Mohr McNeal acquired a new position in shares of Canadian Natural Resources in the 1st quarter worth approximately $55,000. Institutional investors own 64.83% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. 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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