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

Key Points

• Analyst sentiment is moderately bullish: Seven of 12 analysts rate Canadian Natural Resources a “buy,” while five recommend holding the stock. The average 12-month price target is $57.00.
• Quarterly results exceeded expectations: The company reported adjusted EPS of $1.58 versus the $1.43 consensus estimate and revenue of $14.74 billion, well above the $9.40 billion forecast.
• CNQ offers a sizable dividend: The quarterly dividend is $0.625 per share, or $2.50 annually, representing an approximately 5.0% yield and a 44.69% payout ratio. Institutional investors own 74.03% of the stock.

Shares of Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ have received an average rating of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $57.00.

CNQ has been the topic of several recent research reports. Scotiabank restated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Weiss Ratings lowered Canadian Natural Resources from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Zacks Research cut Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. TD Securities restated a "buy" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Finally, Wall Street Zen raised Canadian Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th.

Institutional Inflows and Outflows

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

Canadian Natural Resources Trading Down 1.5%

CNQ stock opened at $50.02 on Friday. The firm has a fifty day moving average price of $47.11 and a 200 day moving average price of $46.15. Canadian Natural Resources has a fifty-two week low of $29.68 and a fifty-two week high of $52.31. The firm has a market cap of $103.17 billion, a PE ratio of 12.35 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00.

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

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, September 11th. Canadian Natural Resources's dividend payout ratio is presently 44.69%.

About Canadian Natural Resources

Canadian Natural Resources Limited (CNRL) is a Canadian independent crude oil and natural gas exploration, development, production, marketing and refining company headquartered in Calgary, Alberta. The company produces a range of energy products, including heavy and light crude oil, synthetic crude oil, natural gas and natural gas liquids.

CNRL's operations are concentrated in Western Canada, where it holds significant oil sands, conventional oil and natural gas assets. Its oil sands business includes mining and upgrading operations as well as in situ thermal projects.

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