Desjardins Downgrades Canadian Natural Resources (NYSE:CNQ) to Hold

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by Desjardins from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat Ratings reports.

Separately, JPMorgan Chase & Co. upped their target price on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.00.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $76.95 on Tuesday. Canadian Natural Resources has a 52 week low of $52.66 and a 52 week high of $82.58. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25. The stock has a market cap of $82.50 billion, a price-to-earnings ratio of 13.89 and a beta of 1.54. The company has a 50-day moving average price of $73.54 and a two-hundred day moving average price of $67.62.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping the consensus estimate of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The firm had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Analysts forecast that Canadian Natural Resources will post 5.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in Canadian Natural Resources by 307.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 49,633 shares of the oil and gas producer’s stock valued at $3,788,000 after purchasing an additional 37,439 shares during the last quarter. Dakota Wealth Management lifted its stake in Canadian Natural Resources by 7.1% during the first quarter. Dakota Wealth Management now owns 80,681 shares of the oil and gas producer’s stock valued at $6,158,000 after purchasing an additional 5,343 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in Canadian Natural Resources during the first quarter valued at approximately $3,732,000. Buttonwood Financial Advisors Inc. lifted its stake in Canadian Natural Resources by 12.0% during the first quarter. Buttonwood Financial Advisors Inc. now owns 47,927 shares of the oil and gas producer’s stock valued at $3,658,000 after purchasing an additional 5,149 shares during the last quarter. Finally, Solstein Capital LLC lifted its stake in Canadian Natural Resources by 29.9% during the first quarter. Solstein Capital LLC now owns 25,917 shares of the oil and gas producer’s stock valued at $1,979,000 after purchasing an additional 5,970 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors.

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).