Canadian Natural Resources Limited (NYSE:CNQ) Receives $63.00 Average PT from Analysts

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $63.00.

Several research analysts have recently issued reports on CNQ shares. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, March 19th. Raymond James Financial upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $63.00 price objective on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. MAI Capital Management raised its position in Canadian Natural Resources by 9.6% during the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after acquiring an additional 382 shares in the last quarter. Assetmark Inc. grew its holdings in Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 439 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Canadian Natural Resources by 10.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,165 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 480 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Canadian Natural Resources by 0.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock valued at $2,530,000 after purchasing an additional 497 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Canadian Natural Resources by 4.5% in the fourth quarter. Global Retirement Partners LLC now owns 11,993 shares of the oil and gas producer’s stock valued at $370,000 after purchasing an additional 514 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Trading Down 0.5%

Shares of NYSE:CNQ opened at $33.42 on Wednesday. Canadian Natural Resources has a 52-week low of $24.65 and a 52-week high of $37.91. The stock has a market cap of $69.90 billion, a price-to-earnings ratio of 13.11 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $30.59 and a 200-day moving average price of $30.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, May 8th. The oil and gas producer reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Canadian Natural Resources had a return on equity of 20.90% and a net margin of 16.92%. The firm had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the business posted $1.37 earnings per share. Equities analysts predict that Canadian Natural Resources will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be given a dividend of $0.4227 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Friday, June 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 67.06%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 (thermal oil), and synthetic crude oil (SCO).