Canadian Natural Resources Limited (NYSE:CNQ) Receives Average Recommendation of “Buy” from Analysts

Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) has been assigned a consensus rating of “Buy” from the nineteen brokerages that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $73.44.

Several analysts have weighed in on CNQ shares. The Goldman Sachs Group lowered shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $58.00 to $54.00 in a research note on Monday, January 24th. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from C$80.00 to C$85.00 in a research note on Thursday, March 31st. TD Securities boosted their price target on shares of Canadian Natural Resources from C$63.00 to C$69.00 in a report on Wednesday, January 12th. National Bank Financial boosted their price target on shares of Canadian Natural Resources from C$90.00 to C$100.00 in a report on Thursday, April 14th. Finally, Stifel Nicolaus boosted their price target on shares of Canadian Natural Resources from C$80.00 to C$100.00 in a report on Monday, March 7th.

Shares of NYSE:CNQ opened at $66.15 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $60.11 and a 200 day simple moving average of $49.76. The firm has a market cap of $77.01 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.46 and a beta of 1.64. Canadian Natural Resources has a 12-month low of $28.91 and a 12-month high of $70.60.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last issued its quarterly earnings results on Thursday, March 3rd. The oil and gas producer reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.54. Canadian Natural Resources had a net margin of 23.33% and a return on equity of 21.20%. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $8.56 billion. During the same quarter in the previous year, the firm earned $0.03 earnings per share. As a group, equities research analysts forecast that Canadian Natural Resources will post 7.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 5th. Shareholders of record on Friday, March 18th were given a $0.592 dividend. The ex-dividend date of this dividend was Thursday, March 17th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.47. This represents a $2.37 annualized dividend and a yield of 3.58%. Canadian Natural Resources’s payout ratio is 45.84%.

Institutional investors have recently modified their holdings of the business. Integrated Investment Consultants LLC bought a new stake in Canadian Natural Resources in the fourth quarter worth about $357,000. NewEdge Wealth LLC acquired a new stake in Canadian Natural Resources during the 3rd quarter worth about $2,830,000. Raymond James Trust N.A. raised its holdings in Canadian Natural Resources by 6.8% during the 4th quarter. Raymond James Trust N.A. now owns 8,241 shares of the oil and gas producer’s stock worth $348,000 after buying an additional 525 shares during the period. Schroder Investment Management Group raised its holdings in Canadian Natural Resources by 69.2% during the 3rd quarter. Schroder Investment Management Group now owns 907,311 shares of the oil and gas producer’s stock worth $42,018,000 after buying an additional 371,061 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Canadian Natural Resources by 12.8% during the 3rd quarter. Van ECK Associates Corp now owns 24,057 shares of the oil and gas producer’s stock worth $879,000 after buying an additional 2,723 shares during the period. Hedge funds and other institutional investors own 68.50% of the company’s stock.

About Canadian Natural Resources (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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