Canadian Natural Resources (NYSE:CNQ) Given Outperform Rating at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a $62.00 price objective on the oil and gas producer’s stock.

CNQ has been the subject of several other research reports. Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Raymond James Financial reiterated an “outperform” rating on shares of Canadian Natural Resources in a report on Friday, August 8th. Scotiabank restated an “outperform” rating on shares of Canadian Natural Resources in a research note on Friday, July 11th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Stock Up 1.9%

Shares of Canadian Natural Resources stock opened at $32.76 on Wednesday. The company has a 50-day simple moving average of $31.13 and a two-hundred day simple moving average of $30.66. The stock has a market capitalization of $68.37 billion, a PE ratio of 11.62 and a beta of 1.03. Canadian Natural Resources has a 52-week low of $24.65 and a 52-week high of $37.91. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.54 and a current ratio of 0.85.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.07. Canadian Natural Resources had a net margin of 19.00% and a return on equity of 19.67%. The company had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $8.97 billion. During the same quarter last year, the firm earned $0.88 earnings per share. On average, analysts anticipate that Canadian Natural Resources will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be paid a $0.4269 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.2%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 60.28%.

Institutional Trading of Canadian Natural Resources

Several large investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in Canadian Natural Resources in the second quarter worth approximately $27,000. Addison Advisors LLC increased its stake in shares of Canadian Natural Resources by 309.1% in the 2nd quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 677 shares in the last quarter. Investment Management Corp VA ADV increased its stake in shares of Canadian Natural Resources by 158.3% in the 1st quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 611 shares in the last quarter. Versant Capital Management Inc raised its holdings in Canadian Natural Resources by 253.2% in the 1st quarter. Versant Capital Management Inc now owns 1,307 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 937 shares during the period. Finally, Sierra Ocean LLC lifted its position in Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 800 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors.

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).