Shares of Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ reached a new 52-week low during trading on Wednesday . The stock traded as low as $28.12 and last traded at $28.70, with a volume of 5829219 shares changing hands. The stock had previously closed at $29.32.
Wall Street Analyst Weigh In
Several research firms have weighed in on CNQ. Tudor Pickering downgraded shares of Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 10th. Raymond James raised Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a research note on Wednesday, April 9th. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a report on Wednesday, March 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday, March 27th. Finally, Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.
Read Our Latest Analysis on CNQ
Canadian Natural Resources Stock Up 0.2 %
The company has a market capitalization of $60.81 billion, a P/E ratio of 11.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a 50 day moving average of $28.84 and a 200-day moving average of $31.03.
Canadian Natural Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were given a $0.4117 dividend. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources's dividend payout ratio (DPR) is currently 77.88%.
Hedge Funds Weigh In On Canadian Natural Resources
Several hedge funds have recently made changes to their positions in CNQ. FMR LLC boosted its holdings in Canadian Natural Resources by 8.7% in the fourth quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock valued at $2,857,337,000 after acquiring an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Canadian Natural Resources by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer's stock valued at $2,778,729,000 after purchasing an additional 456,814 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Canadian Natural Resources by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer's stock valued at $1,362,332,000 after buying an additional 550,242 shares during the period. Canada Pension Plan Investment Board raised its stake in Canadian Natural Resources by 5.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer's stock worth $1,139,753,000 after buying an additional 1,844,700 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Canadian Natural Resources by 7.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer's stock worth $1,051,210,000 after buying an additional 2,312,437 shares during the period. 74.03% of the stock is owned by hedge funds and other institutional investors.
Canadian Natural Resources Company Profile
(
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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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