Canadian Natural Resources (NYSE:CNQ) Given "Outperform" Rating at Royal Bank of Canada

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ's stock had its "outperform" rating restated by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $62.00 price objective on the oil and gas producer's stock. Royal Bank of Canada's price target suggests a potential upside of 106.84% from the stock's previous close.

Separately, Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Canadian Natural Resources presently has an average rating of "Hold" and an average target price of $62.00.

Canadian Natural Resources Trading Down 2.5 %

Shares of CNQ traded down $0.76 during trading hours on Tuesday, reaching $29.98. 7,907,686 shares of the company traded hands, compared to its average volume of 6,324,646. The firm has a market cap of $63.01 billion, a price-to-earnings ratio of 11.64 and a beta of 1.45. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average price is $30.90 and its 200 day moving average price is $33.24. Canadian Natural Resources has a 12-month low of $28.65 and a 12-month high of $41.29.

Institutional Investors Weigh In On Canadian Natural Resources

A number of large investors have recently modified their holdings of CNQ. FMR LLC boosted its position in Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares in the last quarter. Assenagon Asset Management S.A. raised 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 buying an additional 3,600,686 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Canadian Natural Resources by 73.3% during the 3rd 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. raised its stake in shares of Canadian Natural Resources by 31.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,433,797 shares of the oil and gas producer's stock worth $414,223,000 after buying an additional 3,224,548 shares during the period. Finally, National Bank of Canada FI raised its stake 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 worth $273,417,000 after buying an additional 3,198,007 shares during the period. Hedge funds and other institutional investors own 74.03% of the company's stock.

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).