Canadian Natural Resources (NYSE:CNQ) Downgraded to “Hold” at Desjardins

Desjardins lowered shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat.com reports.

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a neutral rating in a research report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of Hold and a consensus price target of $94.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $77.08 on Tuesday. The stock has a market cap of $82.64 billion, a P/E ratio of 13.91 and a beta of 1.54. The company has a fifty day moving average price of $73.20 and a two-hundred day moving average price of $67.55. Canadian Natural Resources has a one year low of $52.66 and a one year high of $82.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. As a group, equities analysts predict that Canadian Natural Resources will post 5.7 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.774 per share. This represents a $3.10 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

Hedge Funds Weigh In On Canadian Natural Resources

Hedge funds have recently added to or reduced their stakes in the stock. Central Bank & Trust Co. acquired a new stake in Canadian Natural Resources during the fourth quarter worth about $26,000. GAMMA Investing LLC acquired a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $27,000. Bruce G. Allen Investments LLC increased its stake in Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. Principal Securities Inc. bought a new stake in Canadian Natural Resources during the fourth quarter worth $35,000. Finally, Janiczek Wealth Management LLC boosted its holdings in shares of Canadian Natural Resources by 39.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 74.03% of the company’s stock.

About Canadian Natural Resources

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).