Howard Weil Initiates Coverage on Canadian Natural Resource (CNQ)
Research analysts at Howard Weil initiated coverage on shares of Canadian Natural Resource (NYSE:CNQ) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set a “sector perform” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at CIBC set a $57.00 price target on shares of Canadian Natural Resource in a research note on Thursday, July 17th. Separately, analysts at BMO Capital Markets upgraded shares of Canadian Natural Resource from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 7th. Finally, analysts at FirstEnergy Capital raised their price target on shares of Canadian Natural Resource from $5.00 to $56.00 in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Canadian Natural Resource presently has an average rating of “Buy” and a consensus target price of $47.40.
Canadian Natural Resource (NYSE:CNQ) opened at 41.29 on Thursday. Canadian Natural Resource has a one year low of $29.08 and a one year high of $46.65. The stock’s 50-day moving average is $44.3 and its 200-day moving average is $40.19. The company has a market cap of $45.093 billion and a price-to-earnings ratio of 15.34.
Canadian Natural Resource (NYSE:CNQ) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 44.5% on a year-over-year basis. Analysts expect that Canadian Natural Resource will post $3.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $0.2061 per share. This represents a $0.82 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, September 10th.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.