Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) has been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.40.
A number of research analysts have recently issued reports on CNQ shares. ValuEngine raised Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research lowered Canadian Natural Resources from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Tudor Pickering raised Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. BMO Capital Markets reissued a “buy” rating and issued a $45.00 target price on shares of Canadian Natural Resources in a report on Monday, January 7th. Finally, Citigroup dropped their target price on Canadian Natural Resources from $38.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 7th.
Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc grew its holdings in Canadian Natural Resources by 71.7% during the fourth quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 435 shares during the period. Bremer Trust National Association acquired a new position in Canadian Natural Resources during the fourth quarter worth $28,000. Worth Venture Partners LLC acquired a new position in Canadian Natural Resources during the third quarter worth $131,000. Tower Research Capital LLC TRC grew its holdings in Canadian Natural Resources by 19,853.3% during the third quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock worth $197,000 after acquiring an additional 5,956 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Canadian Natural Resources by 7.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,183 shares of the oil and gas producer’s stock worth $142,000 after acquiring an additional 454 shares during the period. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CNQ opened at $27.72 on Friday. The company has a market capitalization of $33.33 billion, a PE ratio of 12.89, a P/E/G ratio of 4.51 and a beta of 1.18. The company has a current ratio of 0.63, a quick ratio of 0.43 and a debt-to-equity ratio of 0.61. Canadian Natural Resources has a 12-month low of $21.85 and a 12-month high of $38.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 22nd will be issued a dividend of $0.2821 per share. This represents a $1.13 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, March 21st. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.26. Canadian Natural Resources’s dividend payout ratio is currently 46.98%.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
Recommended Story: What is Liquidity?
Receive News & Ratings for Canadian Natural Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources and related companies with MarketBeat.com's FREE daily email newsletter.