Analysts Set Canadian Natural Resources Limited (NYSE:CNQ) Price Target at $51.00

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have received an average rating of “Hold” from the four ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $51.00.

Separately, Desjardins raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, October 8th.

Institutional Trading of Canadian Natural Resources

Several large investors have recently made changes to their positions in the company. TD Asset Management Inc boosted its holdings in Canadian Natural Resources by 96.2% in the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after acquiring an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Canadian Natural Resources by 93.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Canadian Natural Resources by 105.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock worth $1,127,382,000 after purchasing an additional 16,245,046 shares in the last quarter. Yacktman Asset Management LP grew its position in Canadian Natural Resources by 95.9% in the 2nd quarter. Yacktman Asset Management LP now owns 29,456,746 shares of the oil and gas producer’s stock valued at $1,048,660,000 after purchasing an additional 14,418,835 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Canadian Natural Resources by 90.3% during the 2nd quarter. Mackenzie Financial Corp now owns 30,017,414 shares of the oil and gas producer’s stock valued at $1,069,338,000 after purchasing an additional 14,246,978 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $31.57 on Friday. The company has a market capitalization of $66.51 billion, a PE ratio of 12.26 and a beta of 1.47. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a twelve month low of $29.23 and a twelve month high of $41.29. The firm has a fifty day simple moving average of $32.66 and a 200 day simple moving average of $34.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. The firm had revenue of $7.62 billion during the quarter, compared to analyst estimates of $6.40 billion. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. During the same period last year, the company posted $0.96 EPS. On average, sell-side analysts forecast that Canadian Natural Resources will post 2.47 EPS for the current year.

Canadian Natural Resources Company Profile

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).