Canadian Natural Resources Limited (NYSE:CNQ) Given Consensus Rating of “Hold” by Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $47.00.

CNQ has been the topic of a number of analyst reports. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Raymond James raised Canadian Natural Resources to a “hold” rating in a research note on Tuesday, May 28th. Finally, StockNews.com lowered Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th.

Institutional Investors Weigh In On Canadian Natural Resources

Several large investors have recently modified their holdings of CNQ. Central Bank & Trust Co. bought a new position in shares of Canadian Natural Resources during the fourth quarter worth about $26,000. GAMMA Investing LLC bought a new position in shares of Canadian Natural Resources during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its position in Canadian Natural Resources by 117.8% during the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 245 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Canadian Natural Resources during the first quarter valued at approximately $37,000. Finally, Principal Securities Inc. acquired a new position in Canadian Natural Resources during the fourth quarter valued at approximately $35,000. 74.03% of the stock is currently owned by institutional investors.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ opened at $36.55 on Friday. The business’s fifty day moving average price is $36.59 and its two-hundred day moving average price is $35.48. Canadian Natural Resources has a fifty-two week low of $27.92 and a fifty-two week high of $41.29. The stock has a market capitalization of $77.88 billion, a price-to-earnings ratio of 14.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Canadian Natural Resources had a net margin of 18.21% and a return on equity of 20.58%. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.01 billion. As a group, analysts predict that Canadian Natural Resources will post 2.78 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were issued a $0.777 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.77. This represents a $3.11 annualized dividend and a dividend yield of 8.50%. The ex-dividend date was Monday, June 17th. Canadian Natural Resources’s dividend payout ratio is 60.56%.

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).