Canadian Natural Resource Upgraded to Top Pick at FirstEnergy Capital (CNQ)
Canadian Natural Resource (NYSE:CNQ) was upgraded by analysts at FirstEnergy Capital from an “outperform” rating to a “top pick” rating in a research report issued to clients and investors on Monday, Analyst Ratings Network reports.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Canadian Natural Resource in a research note on Wednesday, April 30th. They now have a $43.00 price target on the stock. Separately, analysts at CIBC reiterated a “sector perform” rating on shares of Canadian Natural Resource in a research note on Tuesday, April 15th. They now have a $52.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Canadian Natural Resource in a research note on Wednesday, March 19th. They set an “overweight” rating and a $36.44 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Natural Resource presently has an average rating of “Hold” and a consensus target price of $41.34.
Shares of Canadian Natural Resource (NYSE:CNQ) traded up 0.74% on Monday, hitting $40.74. The stock had a trading volume of 2,031,758 shares. Canadian Natural Resource has a 1-year low of $26.98 and a 1-year high of $42.00. The stock’s 50-day moving average is $39.94 and its 200-day moving average is $35.27. The company has a market cap of $44.493 billion and a P/E ratio of 17.72.
Canadian Natural Resource (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts predict that Canadian Natural Resource will post $3.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.2054 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, June 11th.
Canadian Natural Resources Limited is a Canadian independent energy company engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas liquids (NYSE:CNQ), and natural gas production.