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

Key Points

• Canadian Natural Resources Limited has a consensus rating of "Moderate Buy" from ten analysts, with a target price of $62.00.
• The company's latest quarterly earnings report showed an EPS of $0.51, exceeding expectations, with a revenue of $6.39 billion compared to the projected $8.97 billion.
• Canadian Natural Resources recently announced an increased quarterly dividend of $0.4269 per share, yielding 5.7%, reflecting its strong financial performance.

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ has been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $62.00.

A number of research firms have recently commented on CNQ. Scotiabank restated an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday, October 9th. National Bankshares restated a "sector perform" rating on shares of Canadian Natural Resources in a report on Thursday, July 17th. Zacks Research upgraded Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 target price on shares of Canadian Natural Resources in a report on Wednesday, September 24th. Finally, Wells Fargo & Company upgraded Canadian Natural Resources to a "hold" rating in a report on Thursday, October 16th.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at $29.91 on Wednesday. The stock's 50-day moving average is $31.32 and its 200-day moving average is $30.86. The company has a market cap of $62.42 billion, a price-to-earnings ratio of 10.61 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.54. Canadian Natural Resources has a 12 month low of $24.65 and a 12 month high of $35.85.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.07. The company had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $8.97 billion. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.During the same period last year, the business posted $0.88 EPS. Equities analysts anticipate that Canadian Natural Resources will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were issued a dividend of $0.4269 per share. This represents a $1.71 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, September 19th. This is an increase from Canadian Natural Resources's previous quarterly dividend of $0.42. Canadian Natural Resources's dividend payout ratio (DPR) is 60.64%.

Institutional Investors Weigh In On Canadian Natural Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new position in Canadian Natural Resources during the 2nd quarter valued at approximately $27,000. Addison Advisors LLC lifted its holdings in shares of Canadian Natural Resources by 309.1% in the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 677 shares during the period. Investment Management Corp VA ADV raised its position in shares of Canadian Natural Resources by 158.3% during the first quarter. Investment Management Corp VA ADV now owns 997 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 611 shares during the period. Sierra Ocean LLC raised its position in shares of Canadian Natural Resources by 104.0% during the first quarter. Sierra Ocean LLC now owns 1,569 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 800 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Canadian Natural Resources by 47.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,644 shares of the oil and gas producer's stock worth $51,000 after purchasing an additional 528 shares during the period. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

About Canadian Natural Resources

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).

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