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

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been given an average rating of “Hold” by the twelve brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $57.00.

CNQ has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Canadian Natural Resources from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. The Goldman Sachs Group upped their price target on Canadian Natural Resources from $37.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 24th. ATB Cormark Capital Markets cut Canadian Natural Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Finally, Zacks Research downgraded Canadian Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th.

Institutional Investors Weigh In On Canadian Natural Resources

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in Canadian Natural Resources during the fourth quarter worth about $25,000. Manchester Capital Management LLC acquired a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $28,000. Leonteq Securities AG purchased a new position in shares of Canadian Natural Resources during the 4th quarter worth approximately $31,000. St. Johns Investment Management Company LLC purchased a new position in shares of Canadian Natural Resources during the 3rd quarter worth approximately $32,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Canadian Natural Resources by 100.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $49.05 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.95. Canadian Natural Resources has a one year low of $24.65 and a one year high of $51.34. The firm has a market capitalization of $102.25 billion, a P/E ratio of 13.29 and a beta of 0.63. The company’s fifty day moving average is $40.96 and its two-hundred day moving average is $35.30.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $6.89 billion during the quarter, compared to the consensus estimate of $6.64 billion. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. During the same quarter last year, the firm posted $0.93 EPS. Analysts forecast that Canadian Natural Resources will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Friday, March 20th will be paid a dividend of $0.625 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.50 annualized dividend and a dividend yield of 5.1%. Canadian Natural Resources’s dividend payout ratio is presently 45.53%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited (NYSE: CNQ) is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company’s operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.