Canadian Natural Resources Limited (CNQ) Receives $46.50 Average PT from Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been assigned an average rating of “Buy” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $46.50.

Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Canadian Natural Resources Limited from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 17th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $36.00 price target on shares of Canadian Natural Resources Limited in a research report on Thursday, June 22nd. National Bank Financial initiated coverage on shares of Canadian Natural Resources Limited in a research report on Tuesday, June 27th. They set an “outperform” rating on the stock. ValuEngine upgraded shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new stake in shares of Canadian Natural Resources Limited in the 1st quarter worth approximately $845,000. Public Sector Pension investment Board raised its holdings in shares of Canadian Natural Resources Limited by 22.4% in the 2nd quarter. Public Sector Pension investment Board now owns 2,366,320 shares of the oil and gas producer’s stock worth $68,182,000 after purchasing an additional 432,800 shares in the last quarter. BlueCrest Capital Management Ltd raised its holdings in shares of Canadian Natural Resources Limited by 22.7% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 298,092 shares of the oil and gas producer’s stock worth $8,597,000 after purchasing an additional 55,053 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Canadian Natural Resources Limited by 67.1% in the 1st quarter. Bank of America Corp DE now owns 4,185,146 shares of the oil and gas producer’s stock worth $137,231,000 after purchasing an additional 1,681,125 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Canadian Natural Resources Limited by 5.5% in the 2nd quarter. Alliancebernstein L.P. now owns 5,094,068 shares of the oil and gas producer’s stock worth $146,913,000 after purchasing an additional 266,100 shares in the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Shares of Canadian Natural Resources Limited (NYSE:CNQ) traded up 0.39% on Friday, reaching $33.31. 2,420,147 shares of the company’s stock traded hands. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28. The firm has a market capitalization of $40.48 billion, a price-to-earnings ratio of 29.09 and a beta of 1.47. The company has a 50 day moving average price of $32.61 and a 200 day moving average price of $31.17.

The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were issued a $0.2212 dividend. This is an increase from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, September 14th. Canadian Natural Resources Limited’s payout ratio is presently 86.28%.

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Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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