Canadian Natural Resources (NYSE:CNQ) PT Raised to $37.00 at UBS Group

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its target price upped by equities researchers at UBS Group from $28.00 to $37.00 in a note issued to investors on Monday, Stock Target Advisor reports. The firm presently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s price target points to a potential upside of 112.03% from the stock’s current price.

Several other analysts have also commented on the stock. Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from $24.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Morgan Stanley downgraded shares of Canadian Natural Resources from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 16th. Goldman Sachs Group upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $21.00 in a research report on Thursday, May 14th. Raymond James restated a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, March 6th. Finally, Deutsche Bank upped their price target on shares of Canadian Natural Resources from $84.00 to $92.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $39.85.

CNQ stock opened at $17.45 on Monday. Canadian Natural Resources has a 12 month low of $6.71 and a 12 month high of $32.79. The firm has a market cap of $20.61 billion, a PE ratio of 8.77 and a beta of 1.75. The firm has a 50 day simple moving average of $18.26 and a 200 day simple moving average of $21.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.66 and a quick ratio of 0.51.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 7th. The oil and gas producer reported ($0.25) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.29). Canadian Natural Resources had a net margin of 13.51% and a return on equity of 6.70%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, sell-side analysts expect that Canadian Natural Resources will post -1.09 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its stake in Canadian Natural Resources by 21.4% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,094 shares of the oil and gas producer’s stock valued at $98,000 after buying an additional 546 shares during the period. Quadrant Capital Group LLC increased its stake in Canadian Natural Resources by 84.9% in the 4th quarter. Quadrant Capital Group LLC now owns 5,860 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 2,690 shares during the period. Private Advisor Group LLC acquired a new position in Canadian Natural Resources in the 4th quarter valued at approximately $226,000. Symphony Asset Management LLC acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth $229,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth $264,000. Hedge funds and other institutional investors own 68.01% 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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