Shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) have been given a consensus rating of “Buy” by the nineteen brokerages that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $40.98.
CNQ has been the topic of a number of recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $53.00 target price on shares of Canadian Natural Resources in a research note on Tuesday, July 9th. Raymond James restated a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, May 10th. Zacks Investment Research lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a research note on Monday, July 22nd. Royal Bank of Canada restated an “average” rating and issued a $45.00 target price on shares of Canadian Natural Resources in a research note on Friday, May 10th. Finally, CIBC restated a “buy” rating and issued a $48.00 target price on shares of Canadian Natural Resources in a research note on Sunday, August 4th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNQ. Icon Wealth Partners LLC bought a new position in Canadian Natural Resources in the 1st quarter worth about $28,000. Zions Bancorporation N.A. bought a new position in Canadian Natural Resources in the 1st quarter worth about $28,000. Bremer Bank National Association bought a new position in Canadian Natural Resources in the 1st quarter worth about $34,000. Huntington National Bank grew its position in Canadian Natural Resources by 348.8% in the 2nd quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its position in Canadian Natural Resources by 245.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,283 shares during the last quarter. Hedge funds and other institutional investors own 65.34% of the company’s stock.
NYSE:CNQ opened at $23.40 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.44. The firm has a 50-day moving average of $25.56 and a two-hundred day moving average of $27.26. The stock has a market cap of $27.62 billion, a P/E ratio of 10.88, a PEG ratio of 1.36 and a beta of 1.13. Canadian Natural Resources has a 1-year low of $21.85 and a 1-year high of $35.95.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.25. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Canadian Natural Resources had a net margin of 22.22% and a return on equity of 8.62%. During the same period in the prior year, the company posted $1.04 EPS. As a group, equities analysts expect that Canadian Natural Resources will post 2.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.284 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 12th. This represents a $1.14 annualized dividend and a yield of 4.85%. Canadian Natural Resources’s dividend payout ratio is 51.63%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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