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

Shares of Canadian Natural Resources Limited (NYSE:CNQGet Rating) (TSE:CNQ) have earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $86.17.

A number of equities research analysts have recently commented on the company. Scotiabank cut Canadian Natural Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, June 8th. Bank of America raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, July 19th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Canadian Natural Resources in a report on Thursday, August 11th. Stifel Nicolaus raised their price objective on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a report on Thursday, June 30th. Finally, StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th.

Institutional Trading of Canadian Natural Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dividend Assets Capital LLC raised its position in Canadian Natural Resources by 0.4% in the 1st quarter. Dividend Assets Capital LLC now owns 39,178 shares of the oil and gas producer’s stock worth $2,428,000 after purchasing an additional 161 shares during the period. Raymond James Trust N.A. raised its position in Canadian Natural Resources by 2.3% in the 1st quarter. Raymond James Trust N.A. now owns 8,432 shares of the oil and gas producer’s stock worth $523,000 after purchasing an additional 191 shares during the period. Captrust Financial Advisors raised its position in Canadian Natural Resources by 57.6% in the 2nd quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 217 shares during the period. M&T Bank Corp raised its position in Canadian Natural Resources by 1.7% in the 2nd quarter. M&T Bank Corp now owns 14,647 shares of the oil and gas producer’s stock worth $786,000 after purchasing an additional 239 shares during the period. Finally, Parallel Advisors LLC raised its position in Canadian Natural Resources by 30.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,159 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Canadian Natural Resources Trading Down 0.4 %

NYSE CNQ opened at $53.91 on Monday. The stock has a market capitalization of $60.57 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 0.51 and a beta of 1.48. Canadian Natural Resources has a one year low of $31.71 and a one year high of $70.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.65. The business’s fifty day moving average is $53.32 and its 200-day moving average is $58.34.

Canadian Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Friday, September 16th will be given a dividend of $0.5822 per share. This represents a $2.33 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, September 15th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 30.05%.

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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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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