Canadian Natural Resources Limited (NYSE:CNQ) Receives $94.00 Average PT from Analysts

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have earned an average rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $94.00.

Several research analysts have issued reports on CNQ shares. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th.

Canadian Natural Resources Trading Up 0.5 %

Canadian Natural Resources stock opened at $77.32 on Tuesday. The stock has a market capitalization of $82.90 billion, a PE ratio of 13.96 and a beta of 1.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The business’s fifty day moving average is $73.82 and its 200 day moving average is $67.68. Canadian Natural Resources has a one year low of $52.66 and a one year high of $82.58.

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

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.774 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.10 annualized dividend and a dividend yield of 4.00%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.72. Canadian Natural Resources’s dividend payout ratio (DPR) is 53.25%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CNQ. Vanguard Group Inc. raised its stake in Canadian Natural Resources by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 43,099,191 shares of the oil and gas producer’s stock valued at $2,823,859,000 after purchasing an additional 835,633 shares during the period. FIL Ltd raised its stake in Canadian Natural Resources by 1.1% during the 4th quarter. FIL Ltd now owns 23,340,567 shares of the oil and gas producer’s stock valued at $1,529,146,000 after purchasing an additional 250,256 shares during the period. TD Asset Management Inc raised its stake in Canadian Natural Resources by 24.4% during the 4th quarter. TD Asset Management Inc now owns 21,562,341 shares of the oil and gas producer’s stock valued at $1,419,556,000 after purchasing an additional 4,224,598 shares during the period. 1832 Asset Management L.P. raised its stake in Canadian Natural Resources by 0.4% during the 4th quarter. 1832 Asset Management L.P. now owns 15,792,161 shares of the oil and gas producer’s stock valued at $1,034,702,000 after purchasing an additional 58,960 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Canadian Natural Resources by 3.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 13,352,245 shares of the oil and gas producer’s stock valued at $876,170,000 after purchasing an additional 499,460 shares during the period. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

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).