Canadian Natural Resources (NYSE:CNQ) Sets New 1-Year High - Still a Buy?

Key Points

• New 52-week high: Canadian Natural Resources shares traded up to $48.25 (last $48.0890), giving the company a market cap around $100 billion and a P/E of 13, with the 50- and 200-day moving averages at $38.61 and $34.46 respectively.
• Dividend increase: The company raised its quarterly dividend to $0.625 (annualized $2.50), a yield of about 5.2% with a payout ratio of 45.53% and an ex-dividend date of March 20.
• Mixed analyst view but solid quarter: CNQ reported an earnings beat (Q EPS $0.59 vs. $0.53 estimate; revenue $6.89B vs. $6.64B) while analysts remain split (six Buys, five Holds, one Sell) producing a MarketBeat consensus of "Hold" and an average target of $50, though some firms (RBC) have higher targets (up to $65).

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ shares hit a new 52-week high during trading on Thursday . The stock traded as high as $48.25 and last traded at $48.0890, with a volume of 2926939 shares traded. The stock had previously closed at $47.26.

Analyst Ratings Changes

Several analysts have issued reports on CNQ shares. Desjardins lowered Canadian Natural Resources from a "buy" rating to a "hold" rating in a research note on Monday, November 24th. Wall Street Zen raised Canadian Natural Resources from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Royal Bank Of Canada increased their price objective on Canadian Natural Resources from $61.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. The Goldman Sachs Group set a $35.00 price target on shares of Canadian Natural Resources and gave the company a "buy" rating in a research note on Friday, January 2nd. Finally, ATB Cormark Capital Markets cut shares of Canadian Natural Resources from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, March 5th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $50.00.

Canadian Natural Resources Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.95 and a quick ratio of 0.53. The firm has a market cap of $100.02 billion, a P/E ratio of 13.00 and a beta of 0.63. The company's 50-day moving average is $38.61 and its two-hundred day moving average is $34.46.

Canadian Natural Resources (NYSE:CNQ - Get Free Report) TSE: CNQ last released its quarterly earnings results on Thursday, March 5th. The oil and gas producer reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. Canadian Natural Resources had a net margin of 24.48% and a return on equity of 17.84%. The firm had revenue of $6.89 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the business earned $0.93 EPS. Sell-side analysts anticipate that Canadian Natural Resources Limited will post 2.45 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Shareholders of record on Friday, March 20th will be issued a $0.625 dividend. The ex-dividend date is Friday, March 20th. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.59. This represents a $2.50 dividend on an annualized basis and a yield of 5.2%. Canadian Natural Resources's dividend payout ratio is 45.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNQ. Sunbelt Securities Inc. bought a new position in shares of Canadian Natural Resources in the 4th quarter worth $25,000. Manchester Capital Management LLC acquired a new position in Canadian Natural Resources during the fourth quarter worth $28,000. Addison Advisors LLC raised its holdings in Canadian Natural Resources by 309.1% during the second quarter. Addison Advisors LLC now owns 896 shares of the oil and gas producer's stock worth $28,000 after buying an additional 677 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Canadian Natural Resources in the fourth quarter valued at $31,000. Finally, GoalVest Advisory LLC acquired a new position in shares of Canadian Natural Resources during the fourth quarter valued at about $32,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.