Canadian Natural Resources Limited (NYSE:CNQ) Given Average Recommendation of “Hold” by Brokerages

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $63.00.

Several research firms recently weighed in on CNQ. Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday.

Canadian Natural Resources Price Performance

CNQ opened at $28.33 on Monday. Canadian Natural Resources has a 1 year low of $25.62 and a 1 year high of $41.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of 11.00 and a beta of 1.48. The firm’s fifty day moving average price is $30.46 and its two-hundred day moving average price is $32.67.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 5.81%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is presently 61.87%.

Institutional Investors Weigh In On Canadian Natural Resources

Large investors have recently modified their holdings of the stock. Kingsview Wealth Management LLC grew its holdings in Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock valued at $300,000 after purchasing an additional 419 shares during the period. Fifth Third Bancorp grew its stake in shares of Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 429 shares during the period. Assetmark Inc. increased its holdings in Canadian Natural Resources by 57.3% in the 4th quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 439 shares during the last quarter. Pitcairn Co. increased its holdings in Canadian Natural Resources by 1.3% in the 3rd quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 475 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 490 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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).