Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) – Stock analysts at Cormark upped their FY2017 earnings estimates for Canadian Natural Resources Limited in a report issued on Wednesday. Cormark analyst A. Arif now anticipates that the oil and gas producer will post earnings per share of $0.90 for the year, up from their prior forecast of $0.87. Cormark also issued estimates for Canadian Natural Resources Limited’s Q4 2017 earnings at $0.36 EPS and FY2018 earnings at $2.10 EPS.

Several other analysts have also issued reports on the stock. Morgan Stanley upgraded shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 price target on the stock in a research report on Wednesday, July 19th. Citigroup Inc. downgraded shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $33.00 in a research note on Friday, July 21st. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine raised shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, BidaskClub raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Canadian Natural Resources Limited presently has an average rating of “Buy” and an average target price of $46.18.

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Shares of Canadian Natural Resources Limited (CNQ) opened at 32.70 on Friday. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28. The firm has a market capitalization of $39.74 billion, a P/E ratio of 29.78 and a beta of 1.45. The firm’s 50-day moving average price is $31.05 and its 200-day moving average price is $30.77.

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in shares of Canadian Natural Resources Limited by 6.0% during the 2nd 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 acquiring an additional 2,042,846 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 worth $756,896,000 after buying an additional 599,935 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of 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 worth $636,007,000 after buying an additional 136,364 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 worth $636,256,000 after buying an additional 703,575 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of 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 worth $482,767,000 after buying an additional 1,780,934 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a dividend of $0.2212 per share. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, September 14th. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is currently 78.43%.

Canadian Natural Resources Limited declared that its board has initiated a share repurchase program on Wednesday, May 17th that allows the company to repurchase 27,930,000 outstanding shares. This repurchase authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

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.

Earnings History and Estimates for Canadian Natural Resources Limited (NYSE:CNQ)

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