Canadian Natural Resource Given Consensus Recommendation of “Buy” by Analysts (NYSE:CNQ)
Canadian Natural Resource (NYSE:CNQ) has earned a consensus rating of “Buy” from the fourteen brokerages that are currently covering the stock, American Banking News reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $47.40.
A number of analysts have recently weighed in on CNQ shares. Analysts at Howard Weil initiated coverage on shares of Canadian Natural Resource in a research note on Thursday, August 14th. They set a “sector perform” rating on the stock. Separately, analysts at CIBC set a $57.00 price target on shares of Canadian Natural Resource in a research note on Thursday, July 17th. Finally, 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.
Canadian Natural Resource (NYSE:CNQ) opened at 43.55 on Thursday. Canadian Natural Resource has a 52-week low of $30.42 and a 52-week high of $46.65. The stock has a 50-day moving average of $43.25 and a 200-day moving average of $40.94. The company has a market cap of $47.561 billion and a price-to-earnings ratio of 15.64.
Canadian Natural Resource (NYSE:CNQ) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.93 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.42 earnings per share. Canadian Natural Resource’s revenue was up 44.5% compared to the same quarter last year. On average, analysts predict that Canadian Natural Resource will post $3.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.2061 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend 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.
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