Canadian Natural Resources (NYSE:CNQ) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research note published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $62.00 price objective on the oil and gas producer’s stock.

Separately, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.00.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $30.69 on Tuesday. The stock has a market capitalization of $64.52 billion, a price-to-earnings ratio of 11.92 and a beta of 1.45. Canadian Natural Resources has a 12 month low of $28.65 and a 12 month high of $41.29. The firm’s 50 day simple moving average is $30.90 and its 200-day simple moving average is $33.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CNQ. Creative Planning lifted its position in shares of Canadian Natural Resources by 15.8% during the 3rd quarter. Creative Planning now owns 92,067 shares of the oil and gas producer’s stock valued at $3,058,000 after buying an additional 12,570 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Canadian Natural Resources by 1,505.5% during the 3rd quarter. Global Retirement Partners LLC now owns 11,479 shares of the oil and gas producer’s stock valued at $381,000 after buying an additional 10,764 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Canadian Natural Resources by 72.1% during the 3rd quarter. Blue Trust Inc. now owns 5,019 shares of the oil and gas producer’s stock valued at $179,000 after buying an additional 2,103 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Canadian Natural Resources by 7.5% during the 3rd quarter. Whittier Trust Co. now owns 25,736 shares of the oil and gas producer’s stock valued at $854,000 after buying an additional 1,799 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Canadian Natural Resources by 9.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 10,193 shares of the oil and gas producer’s stock valued at $338,000 after buying an additional 871 shares in the last quarter. Hedge funds and other institutional investors 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).