Canadian Natural Resources (NYSE:CNQ) Rating Lowered 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 research note issued to investors on Monday,Zacks.com reports.

Canadian Natural Resources Trading Down 2.9 %

CNQ opened at $30.02 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. Canadian Natural Resources has a fifty-two week low of $28.65 and a fifty-two week high of $41.29. The firm has a market capitalization of $63.14 billion, a price-to-earnings ratio of 11.66 and a beta of 1.45. The company’s 50 day moving average price is $31.14 and its two-hundred day moving average price is $33.40.

Institutional Investors Weigh In On Canadian Natural Resources

Several institutional investors and hedge funds have recently made changes to their positions in CNQ. Hurley Capital LLC acquired a new stake in Canadian Natural Resources during the 4th quarter worth about $31,000. Old West Investment Management LLC lifted its stake in Canadian Natural Resources by 11.0% in the fourth quarter. Old West Investment Management LLC now owns 395,161 shares of the oil and gas producer’s stock valued at $12,199,000 after buying an additional 39,178 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Canadian Natural Resources by 10.3% during the 4th quarter. Wells Fargo & Company MN now owns 706,198 shares of the oil and gas producer’s stock worth $21,792,000 after buying an additional 66,075 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $775,000. Finally, Huntington National Bank lifted its position in shares of Canadian Natural Resources by 64.1% during the 4th quarter. Huntington National Bank now owns 1,493 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 583 shares during the period. Institutional investors and hedge funds own 74.03% of the company’s stock.

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).