Shares of Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ) have been assigned an average recommendation of “Buy” from the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.98.
CNQ has been the topic of a number of recent analyst reports. ValuEngine raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Zacks Investment Research downgraded shares of Canadian Natural Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Evercore ISI initiated coverage on shares of Canadian Natural Resources in a research note on Wednesday, March 13th. They issued an “in-line” rating on the stock. Scotiabank reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Tuesday, March 5th.
Shares of Canadian Natural Resources stock traded up $0.30 on Tuesday, reaching $27.97. The stock had a trading volume of 46,962 shares, compared to its average volume of 2,257,337. Canadian Natural Resources has a 1 year low of $21.85 and a 1 year high of $37.41. The stock has a market capitalization of $33.10 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.01 and a beta of 1.22. The company has a current ratio of 0.76, a quick ratio of 0.57 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $27.09.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 9th. The oil and gas producer reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.31. Canadian Natural Resources had a net margin of 13.50% and a return on equity of 8.98%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, research analysts forecast that Canadian Natural Resources will post 2.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.2794 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, June 13th. Canadian Natural Resources’s dividend payout ratio is currently 51.63%.
Several hedge funds have recently bought and sold shares of CNQ. Bremer Trust National Association purchased a new position in shares of Canadian Natural Resources during the fourth quarter worth approximately $28,000. Icon Wealth Partners LLC purchased a new position in shares of Canadian Natural Resources during the first quarter worth approximately $28,000. Zions Bancorporation N.A. purchased a new position in shares of Canadian Natural Resources during the first quarter worth approximately $28,000. Bremer Bank National Association purchased a new position in shares of Canadian Natural Resources during the first quarter worth approximately $34,000. Finally, Cornerstone Advisors Inc. raised its stake in shares of Canadian Natural Resources by 245.3% during the first quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 1,283 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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