Canadian Natural Resources (NYSE:CNQ) Price Target Raised to $44.00 at TD Securities

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price target upped by TD Securities from $41.00 to $44.00 in a report released on Friday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. TD Securities’ price target suggests a potential upside of 57.48% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. CIBC set a $46.00 price objective on shares of Canadian Natural Resources and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Tudor Pickering downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. National Bank Financial lifted their price objective on shares of Canadian Natural Resources from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Canadian Natural Resources in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 price objective on the stock. in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.92.

Shares of Canadian Natural Resources stock opened at $27.94 on Friday. The firm’s 50 day moving average price is $26.00 and its 200-day moving average price is $26.19. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $31.77. The company has a market cap of $31.35 billion, a P/E ratio of 13.00, a PEG ratio of 1.74 and a beta of 1.16.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.44. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. As a group, equities research analysts forecast that Canadian Natural Resources will post 2.35 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in CNQ. Vanguard Group Inc. lifted its stake in Canadian Natural Resources by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 35,109,595 shares of the oil and gas producer’s stock valued at $946,906,000 after acquiring an additional 582,768 shares during the period. TD Asset Management Inc. lifted its stake in Canadian Natural Resources by 1.8% during the 2nd quarter. TD Asset Management Inc. now owns 27,403,837 shares of the oil and gas producer’s stock valued at $740,486,000 after acquiring an additional 473,090 shares during the period. Beutel Goodman & Co Ltd. lifted its stake in Canadian Natural Resources by 4.0% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 24,559,567 shares of the oil and gas producer’s stock valued at $37,261,000 after acquiring an additional 941,032 shares during the period. Letko Brosseau & Associates Inc. lifted its stake in Canadian Natural Resources by 0.7% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 15,015,956 shares of the oil and gas producer’s stock valued at $399,783,000 after acquiring an additional 108,112 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Canadian Natural Resources by 1.6% during the 3rd quarter. CIBC Asset Management Inc now owns 13,908,932 shares of the oil and gas producer’s stock valued at $370,121,000 after acquiring an additional 214,444 shares during the period. Institutional investors own 65.39% of the company’s stock.

About Canadian Natural Resources

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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