Canadian Natural Resources (NYSE:CNQ) Given New $43.00 Price Target at JPMorgan Chase & Co.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price target hoisted by JPMorgan Chase & Co. from $41.00 to $43.00 in a research report sent to investors on Friday morning, Stock Target Advisor reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

Several other brokerages have also issued reports on CNQ. CIBC set a $46.00 price objective on Canadian Natural Resources and gave the stock a buy rating in a report on Tuesday, October 15th. Royal Bank of Canada cut their price objective on Canadian Natural Resources from $45.00 to $42.00 and set a buy rating for the company in a report on Friday, October 18th. National Bank Financial lowered Canadian Natural Resources from an outperform rating to a sector perform rating in a report on Wednesday, October 2nd. Goldman Sachs Group set a $29.00 price objective on Canadian Natural Resources and gave the stock a hold rating in a report on Friday, September 27th. Finally, Credit Suisse Group set a $48.00 price objective on Canadian Natural Resources and gave the stock a buy rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $40.92.

Shares of NYSE:CNQ traded down $0.14 during midday trading on Friday, hitting $27.94. 1,697,260 shares of the stock were exchanged, compared to its average volume of 2,733,854. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $31.77. The business’s fifty day simple moving average is $26.00 and its two-hundred day simple moving average is $26.19. The company has a market capitalization of $31.35 billion, a PE ratio of 13.00, a P/E/G ratio of 1.74 and a beta of 1.16.

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

A number of institutional investors have recently bought and sold shares of the business. Wetherby Asset Management Inc. increased its position in Canadian Natural Resources by 4.4% during the second quarter. Wetherby Asset Management Inc. now owns 22,901 shares of the oil and gas producer’s stock worth $617,000 after buying an additional 968 shares during the last quarter. Quadrant Capital Group LLC increased its position in Canadian Natural Resources by 7.8% during the second quarter. Quadrant Capital Group LLC now owns 13,985 shares of the oil and gas producer’s stock worth $366,000 after buying an additional 1,015 shares during the last quarter. Huntington National Bank increased its position in 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 worth $36,000 after buying an additional 1,036 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in 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 worth $170,000 after buying an additional 1,104 shares during the last quarter. Finally, MML Investors Services LLC increased its position in Canadian Natural Resources by 13.4% during the second quarter. MML Investors Services LLC now owns 9,569 shares of the oil and gas producer’s stock worth $258,000 after buying an additional 1,130 shares during the last quarter. 65.39% of the stock is currently owned by hedge funds and other institutional investors.

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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