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

Key Points

• Analysts give Canadian Natural Resources a “Moderate Buy” consensus: Six of 11 analysts rate the stock a buy, one rates it a strong buy, and four recommend holding. The average 12-month price target is $57.00.
• CNQ shares opened at $49.26, up 2.7%, with a market capitalization of $101.59 billion. The company recently exceeded quarterly expectations, reporting EPS of $1.58 versus the $1.43 consensus and revenue of $14.74 billion.
• The company declared a quarterly dividend of $0.625 per share, equivalent to $2.50 annually and a 5.1% yield. Institutional investors own approximately 74.03% of the stock.

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ has received a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the stock, Marketbeat reports. Four 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 target among brokers that have covered the stock in the last year is $57.00.

CNQ has been the subject of several recent research reports. Raymond James Financial raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research report on Thursday, May 7th. Desjardins raised Canadian Natural Resources to a "hold" rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Canadian Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday. Scotiabank reiterated a "sector perform" rating on shares of Canadian Natural Resources in a report on Friday, August 7th. Finally, Zacks Research raised Canadian Natural Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st.

Canadian Natural Resources Stock Up 2.7%

Shares of CNQ opened at $49.26 on Tuesday. The stock has a market capitalization of $101.59 billion, a PE ratio of 12.16 and a beta of 0.46. Canadian Natural Resources has a 1 year low of $29.30 and a 1 year high of $51.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00. The company's 50-day simple moving average is $43.73 and its 200-day simple moving average is $44.71.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last posted its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.43 by $0.15. The business had revenue of $14.74 billion during the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. Analysts forecast that Canadian Natural Resources will post 4.05 earnings per share for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources's dividend payout ratio (DPR) is presently 44.69%.

Institutional Trading of Canadian Natural Resources

Large investors have recently made changes to their positions in the company. Axiom Investment Management LLC purchased a new position in Canadian Natural Resources in the first quarter worth approximately $29,000. Trust Co. of Vermont acquired a new position in Canadian Natural Resources during the 2nd quarter worth approximately $26,000. CX Institutional purchased a new stake in shares of Canadian Natural Resources in the 2nd quarter valued at approximately $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $25,000. Finally, Manchester Capital Management LLC purchased a new stake in shares of Canadian Natural Resources in the 4th quarter valued at approximately $28,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

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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