Canadian Natural Resources Limited (TSE:CNQ) Receives Average Rating of “Hold” from Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned an average rating of “Hold” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$85.81.

A number of research analysts recently weighed in on CNQ shares. Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Friday. Raymond James lowered their price target on Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. TD Securities reduced their price objective on Canadian Natural Resources from C$60.00 to C$56.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group dropped their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating on the stock in a research report on Monday, September 16th.

Insider Activity

In related news, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total value of C$202,966.99. Insiders own 4.26% of the company’s stock.

Canadian Natural Resources Trading Up 3.3 %

Shares of TSE:CNQ opened at C$49.81 on Thursday. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a 1 year low of C$40.02 and a 1 year high of C$56.49. The company has a market cap of C$106.10 billion, a P/E ratio of 14.19, a PEG ratio of 0.53 and a beta of 1.91. The stock’s fifty day moving average price is C$46.98 and its 200-day moving average price is C$71.19.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The business had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. Sell-side analysts expect that Canadian Natural Resources will post 3.6036866 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a $0.525 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.22%. Canadian Natural Resources’s payout ratio is currently 59.26%.

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).