Canadian Natural Resources Limited (NYSE:CNQ) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Canadian Natural Resources has a consensus analyst rating of "Moderate Buy" from 11 research firms, with an average 1-year price target of $57.00.
• The stock was up 2.8% and opened at $47.07; it has a market cap of about $97.7 billion and a relatively low beta of 0.47.
• The company recently beat quarterly estimates, reporting $0.85 EPS versus $0.74 expected, and it continues to pay a strong dividend of $0.625 per share quarterly for a 5.3% yield.

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ has received an average rating of "Moderate Buy" from the eleven research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $57.00.

A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 11th. Desjardins raised shares of Canadian Natural Resources to a "hold" rating in a report on Thursday, July 16th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Scotiabank raised Canadian Natural Resources to a "hold" rating in a report on Friday, June 26th. Finally, Raymond James Financial raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Thursday, May 7th.

Canadian Natural Resources Trading Up 2.8%

NYSE CNQ opened at $47.07 on Friday. The business's fifty day moving average is $43.99 and its 200-day moving average is $43.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.98 and a quick ratio of 0.68. The stock has a market capitalization of $97.70 billion, a price-to-earnings ratio of 14.05 and a beta of 0.47. Canadian Natural Resources has a one year low of $29.30 and a one year high of $51.34.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings results on Thursday, May 7th. The oil and gas producer reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. Canadian Natural Resources had a net margin of 22.04% and a return on equity of 17.49%. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities research analysts predict that Canadian Natural Resources will post 3.89 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 23rd. Canadian Natural Resources's dividend payout ratio is currently 54.03%.

Institutional Investors Weigh In On Canadian Natural Resources

Several large investors have recently added to or reduced their stakes in CNQ. Axiom Investment Management LLC purchased a new stake in Canadian Natural Resources during the first quarter valued at about $29,000. CX Institutional purchased a new position in shares of Canadian Natural Resources in the second quarter worth about $28,000. Sunbelt Securities Inc. purchased a new position in shares of Canadian Natural Resources in the fourth quarter worth about $25,000. Manchester Capital Management LLC bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $28,000. Finally, Leonteq Securities AG bought a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited NYSE: CNQ is a Calgary-based independent oil and natural gas exploration and production company. Established in the early 1970s and publicly listed in Canada and the United States, the company is principally engaged in the exploration, development, production, and marketing of crude oil, natural gas and natural gas liquids. Its asset base spans conventional and unconventional reservoirs and includes oil sands mining and in-situ thermal projects, midstream processing and upgrading capacity, and related field operations.

The company's operations are concentrated in Western Canada, where it develops heavy crude, bitumen from oil sands and conventional light crude and natural gas resources.

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