Evercore ISI Upgrades Canadian Natural Resources (NYSE:CNQ) to "Outperform"

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ was upgraded by equities researchers at Evercore ISI from an "in-line" rating to an "outperform" rating in a research note issued on Friday, Marketbeat.com reports.

Several other equities analysts also recently commented on the stock. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $62.00 price target on shares of Canadian Natural Resources in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $63.00.

Canadian Natural Resources Trading Up 1.3 %

NYSE:CNQ traded up $0.37 during mid-day trading on Friday, hitting $28.33. 11,417,979 shares of the stock traded hands, compared to its average volume of 7,054,186. The stock has a market capitalization of $59.56 billion, a price-to-earnings ratio of 11.00 and a beta of 1.48. Canadian Natural Resources has a 52 week low of $25.62 and a 52 week high of $41.29. The firm's 50 day moving average is $30.46 and its two-hundred day moving average is $32.69. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

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Hedge Funds Weigh In On Canadian Natural Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Holocene Advisors LP purchased a new stake in Canadian Natural Resources during the third quarter valued at approximately $13,700,000. Principal Securities Inc. lifted its position in Canadian Natural Resources by 595.2% during the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after acquiring an additional 5,982 shares during the last quarter. SG Americas Securities LLC lifted its position in Canadian Natural Resources by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock valued at $9,151,000 after acquiring an additional 17,694 shares during the last quarter. CIBC Asset Management Inc lifted its position in Canadian Natural Resources by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock valued at $746,025,000 after acquiring an additional 1,270,945 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Canadian Natural Resources by 87.0% during the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock valued at $136,994,000 after acquiring an additional 2,064,492 shares during the last quarter. 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).