Canadian Natural Resources (NYSE:CNQ) Downgraded to Hold at Tudor Pickering

Tudor Pickering cut shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) from a buy rating to a hold rating in a research report report published on Tuesday, BenzingaRatingsTable reports.

A number of other equities research analysts have also recently issued reports on CNQ. Wells Fargo & Co cut Canadian Natural Resources from a market perform rating to an underperform rating in a research note on Friday, September 6th. ValuEngine upgraded Canadian Natural Resources from a hold rating to a buy rating in a research note on Monday, September 16th. National Bank Financial cut Canadian Natural Resources from an outperform rating to a sector perform rating in a research note on Wednesday, October 2nd. Credit Suisse Group set a $48.00 target price on Canadian Natural Resources and gave the company a buy rating in a research note on Tuesday, September 10th. Finally, Zacks Investment Research cut Canadian Natural Resources from a buy rating to a hold rating and set a $28.00 target price on the stock. in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $40.71.

CNQ stock opened at $24.58 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. The stock has a market capitalization of $30.46 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.50 and a beta of 1.15. Canadian Natural Resources has a 1 year low of $21.85 and a 1 year high of $31.77. The stock’s fifty day moving average is $25.15 and its two-hundred day moving average is $26.66.



Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.25. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. During the same period last year, the business posted $1.04 earnings per share. As a group, analysts predict that Canadian Natural Resources will post 2.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.284 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Natural Resources’s payout ratio is currently 52.56%.

Several hedge funds and other institutional investors have recently modified their holdings of CNQ. Huntington National Bank raised its stake in shares of Canadian Natural Resources by 348.8% during the second quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 1,036 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Canadian Natural Resources during the second quarter valued at about $40,000. SG3 Management LLC bought a new stake in shares of Canadian Natural Resources during the second quarter valued at about $65,000. Meadow Creek Investment Management LLC raised its stake in shares of Canadian Natural Resources by 20.3% during the second quarter. Meadow Creek Investment Management LLC now owns 6,544 shares of the oil and gas producer’s stock valued at $170,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Canadian Natural Resources by 811.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,379 shares of the oil and gas producer’s stock valued at $172,000 after purchasing an additional 5,679 shares in the last quarter. Institutional investors and hedge funds own 65.10% 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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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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