Canadian Natural Resources Limited (NYSE:CNQ) Receives $47.00 Average PT from Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has received a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.00.

A number of brokerages recently issued reports on CNQ. Desjardins lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Raymond James raised shares of Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th.

Institutional Trading of Canadian Natural Resources

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Canadian Natural Resources by 993.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock valued at $13,535,000 after purchasing an additional 187,694 shares during the last quarter. Cerity Partners LLC lifted its stake in Canadian Natural Resources by 556.7% during the fourth quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer’s stock valued at $6,312,000 after purchasing an additional 81,669 shares during the last quarter. Baskin Financial Services Inc. lifted its stake in Canadian Natural Resources by 3.5% during the fourth quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer’s stock valued at $30,406,000 after purchasing an additional 15,546 shares during the last quarter. NewEdge Wealth LLC lifted its stake in Canadian Natural Resources by 10.8% during the fourth quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer’s stock valued at $29,904,000 after purchasing an additional 44,568 shares during the last quarter. Finally, Financial Perspectives Inc lifted its stake in Canadian Natural Resources by 92.1% during the fourth quarter. Financial Perspectives Inc now owns 5,797 shares of the oil and gas producer’s stock valued at $380,000 after purchasing an additional 2,779 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Trading Up 1.4 %

Shares of CNQ opened at $36.55 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $36.59 and its two-hundred day moving average is $35.48. Canadian Natural Resources has a twelve month low of $27.92 and a twelve month high of $41.29. The firm has a market capitalization of $77.88 billion, a P/E ratio of 14.56 and a beta of 1.52.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.01 billion. Canadian Natural Resources had a net margin of 18.21% and a return on equity of 20.58%. On average, research analysts predict that Canadian Natural Resources will post 2.78 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 17th were paid a $0.777 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.77. This represents a $3.11 dividend on an annualized basis and a dividend yield of 8.50%. The ex-dividend date of this dividend was Monday, June 17th. Canadian Natural Resources’s dividend payout ratio is currently 60.56%.

Canadian Natural Resources Company Profile

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).