Shares of Canadian Natural Resources Ltd. (NYSE:CNQ) have earned a consensus rating of “Buy” from the twenty-one brokerages that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, thirteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.40.
A number of brokerages have recently issued reports on CNQ. Scotiabank reiterated an “outperform” rating and set a $44.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, August 10th. Royal Bank Of Canada upgraded shares of Canadian Natural Resources from an “outperform” rating to a “top pick” rating in a research note on Wednesday, June 15th. Citigroup Inc. reissued a “buy” rating and set a $34.00 price objective (up previously from $28.63) on shares of Canadian Natural Resources in a report on Friday, June 17th. TD Securities reissued a “hold” rating and set a $38.00 price objective on shares of Canadian Natural Resources in a report on Friday, June 17th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Canadian Natural Resources in a report on Thursday, June 16th.
Institutional investors have recently modified their holdings of the company. Societe Generale bought a new position in shares of Canadian Natural Resources during the second quarter valued at approximately $114,000. SG Americas Securities LLC acquired a new stake in Canadian Natural Resources during the second quarter valued at about $114,000. Glenmede Trust Co. NA raised its stake in Canadian Natural Resources by 11.4% in the second quarter. Glenmede Trust Co. NA now owns 4,577 shares of the company’s stock valued at $140,000 after buying an additional 467 shares during the last quarter. Financial Architects Inc acquired a new stake in Canadian Natural Resources during the second quarter valued at about $155,000. Finally, Schroder Investment Management Group raised its stake in Canadian Natural Resources by 2,205.9% in the second quarter. Schroder Investment Management Group now owns 6,272 shares of the company’s stock valued at $250,000 after buying an additional 6,000 shares during the last quarter. 69.22% of the stock is owned by hedge funds and other institutional investors.
Canadian Natural Resources (NYSE:CNQ) traded up 2.32% during midday trading on Wednesday, reaching $32.59. The company had a trading volume of 1,672,794 shares. The stock’s 50 day moving average is $31.14 and its 200 day moving average is $29.93. The firm’s market capitalization is $35.90 billion. Canadian Natural Resources has a 12-month low of $14.60 and a 12-month high of $32.94.
Canadian Natural Resources (NYSE:CNQ) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Canadian Natural Resources had a negative net margin of 3.88% and a negative return on equity of 2.36%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $1.80 billion. Equities research analysts expect that Canadian Natural Resources will post ($0.60) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 16th were given a dividend of $0.1764 per share. This represents a $0.71 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, September 14th. Canadian Natural Resources’s dividend payout ratio (DPR) is -233.33%.
About Canadian Natural Resources
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). Its exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.
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