Canadian Natural Resources Limited (NYSE: CNQ) (TSE: CNQ) was assigned an average buy recommendation of “Buy” by the eighteen research firms that currently cover the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, thirteen with a buy rating and one with a strong buy rating. The average twelve month target price among brokers who updated their coverage for the stock last year is $ 45.57.
CNQ has been the subject of several recent research reports. CIBC raised its target price for Canadian natural resources from $ 42.00 to $ 46.00 and rated the stock as “Outperform” in a research note on Wednesday, March 10th. Scotiabank raised its target price for Canadian natural resources from USD 42.00 to USD 48.00 and rated the stock as “Outperform” in a research note on Thursday, April 15. BMO Capital Markets raised its target price for Canadian natural resources from USD 42.00 to USD 45.00 and rated the stock as “Outperform” in a research report on Friday, March 5th. Desjardins raised his target price on shares of Canadian Natural Resources from $ 38.00 to $ 46.00 and rated the company as a “Buy” in a research report on Monday March 8th. Eventually, Goldman Sachs Group downgraded Canadian Natural Resources from a “buy” rating to a “neutral” rating and raised its price target for the company from $ 27.00 in a research note on Wednesday, January 13th $ 28.00.
CNQ shares opened at $ 33.20 on Friday. The company’s 50-day moving average price is $ 30.58 and the company’s 200-day moving average price is $ 25.75. The stock has a market cap of $ 39.37 billion, a P / E of -92.22, and a beta of 1.90. The company has a current rate of 0.97, a quick rate of 0.71, and a leverage ratio of 0.65. Canadian Natural Resources has a 12-month low of $ 14.85 and a 12-month high of $ 33.25.
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Canadian Natural Resources (NYSE: CNQ) (TSE: CNQ) last released its quarterly results on Wednesday March 3rd. The oil and gas producer reported earnings per share of $ 0.15 for the quarter, beating analysts’ consensus estimate of $ 0.13 by $ 0.02. The company had revenue of $ 3.85 billion for the quarter, compared to analyst expectations of $ 3.83 billion. Canadian Natural Resources had a negative net margin of 3.03% and a negative return on equity of 1.74%. On average, sell-side analysts predict that Canadian Natural Resources will achieve earnings per share of -0.55 in the current fiscal year.
The company recently announced a quarterly dividend, which was paid on Monday, April 5th. On Friday March 19th, investors of record received a dividend of $ 0.3712 per share. This equates to a dividend of $ 1.48 on an annual basis and a yield of 4.47%. The ex-dividend day was Thursday, March 18th. This is an increase from Canadian Natural Resources’ previous quarterly dividend of $ 0.32. Canadian Natural Resources has a payout ratio of 57.71%.
Several institutional investors recently increased or decreased their stake in CNQ. The Bank of Nova Scotia increased its stake in Canadian Natural Resources by 16.5% in the first quarter. The Bank of Nova Scotia now owns 14,592,405 shares in the oil and gas producer valued at $ 451,017,000 after purchasing an additional 2,062,384 shares during the period. CIBC Asset Management Inc increased its stake in Canadian Natural Resources by 3.4% in the fourth quarter. CIBC Asset Management Inc now owns 13,651,177 shares in the oil and gas producer valued at $ 327,307,000 after acquiring an additional 452,855 shares last quarter. CIBC World Markets Inc. increased its position in Canadian Natural Resources stocks by 9.5% in the fourth quarter. CIBC World Markets Inc. now owns 13,031,985 shares in the oil and gas producer valued at $ 313,419,000 after purchasing an additional 1,131,774 shares during the period. Price T Rowe Associates Inc. MD increased its position in Canadian Natural Resources stocks by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,568,071 shares in the oil and gas producer valued at $ 278,212,000 after acquiring an additional 306,964 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Canadian natural resources by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,978,393 shares in the oil and gas producer valued at $ 239,980,000 after purchasing an additional 510,718 shares last quarter. Institutional investors and hedge funds own 66.50% of the company’s shares.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited purchases, researches, develops, manufactures, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude (SCO), light and medium crude, bitumen (thermal oil), primary heavy crude, and heavy crude from Pelican Lake.
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