Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have received a consensus rating of “Buy” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $46.50.

CNQ has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Friday, May 5th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $36.00 target price on shares of Canadian Natural Resources Limited in a research report on Thursday, June 22nd. National Bank Financial initiated coverage on shares of Canadian Natural Resources Limited in a research report on Tuesday, June 27th. They issued an “outperform” rating for the company. BidaskClub raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Finally, ValuEngine raised shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.

Shares of Canadian Natural Resources Limited (CNQ) opened at 30.78 on Friday. The company’s 50 day moving average is $30.30 and its 200 day moving average is $30.66. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28. The company has a market capitalization of $37.40 billion, a P/E ratio of 28.08 and a beta of 1.48.

Canadian Natural Resources Limited announced that its board has authorized a stock buyback program on Wednesday, May 17th that permits the company to buyback 27,930,000 shares. This buyback authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a dividend of $0.2212 per share. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.87%. Canadian Natural Resources Limited’s dividend payout ratio is currently 78.43%.

A number of large investors have recently bought and sold shares of CNQ. Capital World Investors boosted its stake in Canadian Natural Resources Limited by 6.0% in the second quarter. Capital World Investors now owns 36,065,983 shares of the oil and gas producer’s stock valued at $1,040,707,000 after buying an additional 2,042,846 shares in the last quarter. Vanguard Group Inc. boosted its stake in Canadian Natural Resources Limited by 2.3% in the second quarter. Vanguard Group Inc. now owns 26,244,673 shares of the oil and gas producer’s stock valued at $756,896,000 after buying an additional 599,935 shares in the last quarter. TD Asset Management Inc. boosted its stake in Canadian Natural Resources Limited by 0.6% in the second quarter. TD Asset Management Inc. now owns 22,073,306 shares of the oil and gas producer’s stock valued at $636,007,000 after buying an additional 136,364 shares in the last quarter. Wellington Management Group LLP boosted its stake in Canadian Natural Resources Limited by 3.8% in the first quarter. Wellington Management Group LLP now owns 19,412,912 shares of the oil and gas producer’s stock valued at $636,256,000 after buying an additional 703,575 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Canadian Natural Resources Limited by 11.9% in the second quarter. CIBC Asset Management Inc now owns 16,749,799 shares of the oil and gas producer’s stock valued at $482,767,000 after buying an additional 1,780,934 shares in the last quarter. 60.27% of the stock is owned by institutional investors and hedge funds.

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About Canadian Natural Resources Limited

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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