Canadian Natural Resources (NYSE:CNQ) Lowered to “Hold” Rating by Tudor Pickering

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was downgraded by stock analysts at Tudor Pickering from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Canadian Natural Resources Stock Down 2.9 %

Shares of CNQ opened at $30.02 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a 12 month low of $28.65 and a 12 month high of $41.29. The firm’s 50 day moving average is $31.14 and its 200-day moving average is $33.40. The stock has a market capitalization of $63.14 billion, a PE ratio of 11.66 and a beta of 1.45.

Institutional Trading of Canadian Natural Resources

Several large investors have recently modified their holdings of the stock. Holocene Advisors LP acquired a new position in Canadian Natural Resources in the third quarter valued at about $13,700,000. SG Americas Securities LLC raised its position in shares of Canadian Natural Resources by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer’s stock valued at $9,151,000 after buying an additional 17,694 shares in the last quarter. Canoe Financial LP raised its position in shares of Canadian Natural Resources by 226.0% in the 3rd quarter. Canoe Financial LP now owns 1,549,610 shares of the oil and gas producer’s stock valued at $51,469,000 after buying an additional 1,074,199 shares in the last quarter. Baskin Financial Services Inc. lifted its holdings in shares of Canadian Natural Resources by 1.1% during the 4th quarter. Baskin Financial Services Inc. now owns 996,151 shares of the oil and gas producer’s stock worth $30,736,000 after acquiring an additional 10,871 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Canadian Natural Resources by 112.8% during the 3rd quarter. Cerity Partners LLC now owns 453,393 shares of the oil and gas producer’s stock worth $15,057,000 after acquiring an additional 240,354 shares in the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

About Canadian Natural Resources

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).