Canadian Natural Resources (NYSE:CNQ) Stock Rating Upgraded by Raymond James

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Wednesday,Finviz reports.

CNQ has been the topic of several other research reports. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Tudor Pickering lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ traded up $0.03 during trading on Wednesday, reaching $25.17. The stock had a trading volume of 3,314,817 shares, compared to its average volume of 5,540,721. The stock has a market capitalization of $52.86 billion, a PE ratio of 9.77 and a beta of 1.10. Canadian Natural Resources has a 52 week low of $24.35 and a 52 week high of $41.29. The business’s 50-day moving average price is $29.55 and its 200 day moving average price is $31.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Old West Investment Management LLC lifted its stake in Canadian Natural Resources by 73.9% in the third quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock valued at $11,822,000 after buying an additional 151,237 shares during the period. Stifel Financial Corp increased its stake in shares of Canadian Natural Resources by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 260,612 shares of the oil and gas producer’s stock valued at $8,655,000 after acquiring an additional 1,153 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Canadian Natural Resources by 25.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,182 shares of the oil and gas producer’s stock valued at $471,000 after acquiring an additional 2,850 shares during the period. XTX Topco Ltd bought a new position in Canadian Natural Resources during the 3rd quarter worth approximately $686,000. Finally, Orion Portfolio Solutions LLC grew its holdings in Canadian Natural Resources by 460.0% during the third quarter. Orion Portfolio Solutions LLC now owns 81,457 shares of the oil and gas producer’s stock valued at $2,705,000 after purchasing an additional 66,910 shares during the period. 74.03% of the stock is currently owned by institutional investors.

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).