Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday. They currently have a $33.00 price target on the oil and gas producer’s stock, down from their previous price target of $40.00. Citigroup Inc.’s price target points to a potential upside of 11.11% from the company’s current price. The analysts noted that the move was a valuation call.

Several other research firms have also weighed in on CNQ. National Bank Financial started coverage on shares of Canadian Natural Resources Limited in a report on Tuesday, June 27th. They set an “outperform” rating for the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 target price on shares of Canadian Natural Resources Limited in a report on Thursday, June 22nd. ValuEngine raised shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Friday, May 5th. Finally, TheStreet raised shares of Canadian Natural Resources Limited from a “d+” rating to a “c-” rating in a report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $45.57.

Canadian Natural Resources Limited (NYSE CNQ) opened at 29.70 on Friday. The company’s 50 day moving average is $28.92 and its 200-day moving average is $30.67. Canadian Natural Resources Limited has a 12 month low of $27.52 and a 12 month high of $35.28. The company has a market cap of $33.18 billion, a price-to-earnings ratio of 282.86 and a beta of 1.47.

Canadian Natural Resources Limited announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 17th that allows the company to buyback 27,930,000 outstanding shares. This buyback authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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Large investors have recently made changes to their positions in the company. Guggenheim Capital LLC boosted its stake in shares of Canadian Natural Resources Limited by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 95,585 shares of the oil and gas producer’s stock valued at $3,049,000 after buying an additional 4,110 shares during the period. Lincluden Management Ltd. boosted its stake in shares of Canadian Natural Resources Limited by 8.7% in the fourth quarter. Lincluden Management Ltd. now owns 379,290 shares of the oil and gas producer’s stock valued at $12,075,000 after buying an additional 30,272 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Canadian Natural Resources Limited by 9.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,703,519 shares of the oil and gas producer’s stock valued at $86,264,000 after buying an additional 230,403 shares during the period. Integrated Investment Consultants LLC acquired a new stake in shares of Canadian Natural Resources Limited during the first quarter valued at about $103,000. Finally, Gulf International Bank UK Ltd boosted its stake in shares of Canadian Natural Resources Limited by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 344,007 shares of the oil and gas producer’s stock valued at $11,246,000 after buying an additional 4,500 shares during the period. 65.61% of the stock is currently owned by institutional investors.

About Canadian Natural Resources Limited

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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