Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) has received a consensus rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $47.60.
CNQ has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. UBS initiated coverage on Canadian Natural Resources in a research note on Wednesday, March 7th. They issued a “buy” rating on the stock. Morgan Stanley cut their price objective on Canadian Natural Resources from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, April 16th. Finally, Wells Fargo & Co downgraded Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNQ. Jones Collombin Investment Counsel Inc grew its holdings in Canadian Natural Resources by 16.0% in the 4th quarter. Jones Collombin Investment Counsel Inc now owns 215,770 shares of the oil and gas producer’s stock valued at $7,710,000 after buying an additional 29,700 shares during the last quarter. Rathbone Brothers plc grew its holdings in Canadian Natural Resources by 65.9% in the 4th quarter. Rathbone Brothers plc now owns 13,268 shares of the oil and gas producer’s stock valued at $476,000 after buying an additional 5,268 shares during the last quarter. APG Asset Management N.V. grew its holdings in Canadian Natural Resources by 4.9% in the 4th quarter. APG Asset Management N.V. now owns 1,635,021 shares of the oil and gas producer’s stock valued at $48,817,000 after buying an additional 76,600 shares during the last quarter. Lourd Capital LLC acquired a new stake in Canadian Natural Resources in the 4th quarter valued at approximately $1,855,000. Finally, Eqis Capital Management Inc. acquired a new stake in Canadian Natural Resources in the 4th quarter valued at approximately $205,000. 59.75% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings data on Thursday, May 3rd. The oil and gas producer reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.14. Canadian Natural Resources had a return on equity of 6.36% and a net margin of 14.43%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the business earned $0.25 EPS. analysts forecast that Canadian Natural Resources will post 2.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 15th will be issued a $0.2609 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, June 14th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 125.30%.
Canadian Natural Resources announced that its board has initiated a share buyback plan on Wednesday, March 14th that allows the company to repurchase 61,300,000 outstanding shares. This repurchase authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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