Canadian Natural Resources’ (CNQ) “Top Pick” Rating Reiterated at RBC Capital Markets
Canadian Natural Resources Ltd. (NYSE:CNQ)‘s stock had its “top pick” rating reiterated by research analysts at RBC Capital Markets in a research report issued on Monday. They presently have a $51.00 price target on the stock. RBC Capital Markets’ target price would suggest a potential upside of 58.39% from the company’s previous close.
Several other analysts also recently issued reports on the company. Bank of America Corp. assumed coverage on Canadian Natural Resources in a report on Friday, August 19th. They set a “buy” rating and a $38.00 price objective on the stock. TD Securities reiterated a “hold” rating and issued a $40.00 target price on shares of Canadian Natural Resources in a report on Wednesday, August 10th. Scotiabank reiterated an “outperform” rating and issued a $44.00 target price on shares of Canadian Natural Resources in a report on Wednesday, August 10th. JPMorgan Chase & Co. upped their target price on Canadian Natural Resources from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Finally, Macquarie upgraded Canadian Natural Resources from a “neutral” rating to an “outperform” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $39.07.
Canadian Natural Resources (NYSE:CNQ) traded up 0.22% during mid-day trading on Monday, hitting $32.20. 2,245,777 shares of the stock were exchanged. The stock’s market cap is $35.47 billion. The company has a 50 day moving average price of $31.16 and a 200 day moving average price of $30.26. Canadian Natural Resources has a 52 week low of $14.60 and a 52 week high of $32.94.
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Canadian Natural Resources (NYSE:CNQ) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $1.80 billion. Canadian Natural Resources had a negative return on equity of 2.36% and a negative net margin of 3.88%. Analysts expect that Canadian Natural Resources will post ($0.60) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 16th were given a $0.1764 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.71 annualized dividend and a dividend yield of 2.19%. Canadian Natural Resources’s dividend payout ratio is -233.33%.
Several large investors have recently bought and sold shares of CNQ. Gulf International Bank UK Ltd boosted its stake in Canadian Natural Resources by 0.7% in the third quarter. Gulf International Bank UK Ltd now owns 327,807 shares of the company’s stock valued at $10,473,000 after buying an additional 2,400 shares in the last quarter. Nexus Investment Management Inc. boosted its stake in Canadian Natural Resources by 2.6% in the third quarter. Nexus Investment Management Inc. now owns 28,600 shares of the company’s stock valued at $915,000 after buying an additional 725 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Canadian Natural Resources by 20.6% in the third quarter. Capstone Asset Management Co. now owns 81,559 shares of the company’s stock valued at $2,613,000 after buying an additional 13,950 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Canadian Natural Resources during the third quarter valued at $388,000. Finally, Raymond James Trust N.A. boosted its stake in Canadian Natural Resources by 8.4% in the third quarter. Raymond James Trust N.A. now owns 7,330 shares of the company’s stock valued at $235,000 after buying an additional 570 shares in the last quarter. 69.19% of the stock is owned by institutional investors.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). Its exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.
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