Canadian Natural Resource Assigned BBB+ Credit Rating by Morningstar (CNQ)
Canadian Natural Resource (NYSE:CNQ) has earned a “BBB+” credit rating from analysts at Morningstar. The credit rating agency’s “BBB+” rating suggests that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
CNQ has been the subject of a number of other recent research reports. 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. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $47.40.
Shares of Canadian Natural Resource (NYSE:CNQ) opened at 42.28 on Thursday. Canadian Natural Resource has a 52-week low of $30.42 and a 52-week high of $46.65. The stock’s 50-day moving average is $43.08 and its 200-day moving average is $41.13. The company has a market cap of $46.174 billion and a P/E ratio of 15.34.
Canadian Natural Resource (NYSE:CNQ) last released its 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. Analysts expect that Canadian Natural Resource will post $3.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders 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 1.95%. 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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