Canadian Natural Resources Limited (NYSE:CNQ) Receives Average Rating of “Moderate Buy” from Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $62.00.

A number of research analysts have recently issued reports on the stock. TD Securities restated a “buy” rating on shares of Canadian Natural Resources in a research report on Tuesday, September 30th. Wells Fargo & Company upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $62.00 price target on shares of Canadian Natural Resources in a research report on Wednesday, September 24th. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new stake in Canadian Natural Resources in the second quarter worth $27,000. Addison Advisors LLC boosted its position in shares of Canadian Natural Resources by 309.1% during 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. St. Johns Investment Management Company LLC acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at about $32,000. Nisa Investment Advisors LLC increased its position in Canadian Natural Resources by 100.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Finally, Quarry LP acquired a new position in Canadian Natural Resources during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

Canadian Natural Resources Stock Down 1.7%

Shares of CNQ opened at $32.43 on Thursday. The stock’s 50-day moving average price is $32.45 and its two-hundred day moving average price is $31.87. Canadian Natural Resources has a 12 month low of $24.65 and a 12 month high of $35.12. The company has a market capitalization of $67.54 billion, a PE ratio of 14.35 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.53 and a debt-to-equity ratio of 0.41.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, November 6th. The oil and gas producer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Canadian Natural Resources had a return on equity of 18.93% and a net margin of 14.90%.The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the company earned $0.97 earnings per share. On average, analysts anticipate that Canadian Natural Resources will post 2.45 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.5875 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, December 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.43. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 74.34%.

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).