Canadian Natural Resources Limited (NYSE:CNQ) Receives $48.13 Consensus Price Target from Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $49.50.

A number of equities analysts have recently commented on the company. Raymond James raised Canadian Natural Resources to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research initiated coverage on Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Finally, StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park Place Capital Corp increased its holdings in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 358 shares during the last quarter. RFP Financial Group LLC grew its position in Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 352 shares in the last quarter. Sugarloaf Wealth Management LLC grew its position in Canadian Natural Resources by 100.0% in the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 364 shares in the last quarter. GAMMA Investing LLC bought a new position in Canadian Natural Resources in the fourth quarter valued at $27,000. Finally, Bruce G. Allen Investments LLC raised its position in Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

NYSE CNQ opened at $36.21 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market cap of $77.05 billion, a PE ratio of 14.43 and a beta of 1.52. Canadian Natural Resources has a 52 week low of $29.45 and a 52 week high of $41.29. The firm’s 50-day simple moving average is $35.54 and its two-hundred day simple moving average is $36.43.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, topping the consensus estimate of $0.62 by $0.26. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. The company had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the firm earned $0.43 EPS. Research analysts predict that Canadian Natural Resources will post 2.49 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.384 dividend. This represents a $1.54 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.56%.

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).