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

Tudor Pickering lowered shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks.com reports.

Canadian Natural Resources Stock Down 2.9 %

CNQ stock opened at $30.02 on Monday. Canadian Natural Resources has a 12 month low of $28.65 and a 12 month high of $41.29. The company has a fifty day moving average price of $31.14 and a 200 day moving average price of $33.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market cap of $63.14 billion, a price-to-earnings ratio of 11.66 and a beta of 1.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNQ. Assenagon Asset Management S.A. grew its stake in shares of Canadian Natural Resources by 6,902.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,652,855 shares of the oil and gas producer’s stock worth $112,763,000 after purchasing an additional 3,600,686 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Canadian Natural Resources by 73.3% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,834,264 shares of the oil and gas producer’s stock worth $260,116,000 after buying an additional 3,312,442 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian Natural Resources by 31.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer’s stock valued at $414,223,000 after buying an additional 3,224,548 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Canadian Natural Resources by 63.5% during the 3rd quarter. National Bank of Canada FI now owns 8,233,388 shares of the oil and gas producer’s stock valued at $273,417,000 after acquiring an additional 3,198,007 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Canadian Natural Resources by 30.1% during the 4th quarter. Geode Capital Management LLC now owns 12,708,163 shares of the oil and gas producer’s stock worth $400,222,000 after acquiring an additional 2,939,866 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

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).