Canadian Natural Resources Limited (NYSE:CNQ) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate CNQ a “Moderate Buy”: Seven of 12 analysts recommend buying the stock, while five rate it a hold. The average 12-month price target is $57.00.
• Institutional ownership is substantial: Institutional investors own 74.03% of Canadian Natural Resources, with several major funds recently increasing their positions or initiating stakes.
• Strong financial performance and dividend: CNQ exceeded quarterly earnings expectations with $1.58 EPS and $14.74 billion in revenue, while its quarterly dividend implies a 5.2% annual yield.

Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ has been given an average recommendation of "Moderate Buy" by the twelve analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $57.00.

A number of equities research analysts have commented on CNQ shares. Weiss Ratings raised shares of Canadian Natural Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 18th. Scotiabank reiterated a "sector perform" rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Canadian Natural Resources from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Canadian Natural Resources in a report on Thursday, August 27th. Finally, Desjardins upgraded shares of Canadian Natural Resources to a "hold" rating in a research report on Thursday, July 16th.

Institutional Investors Weigh In On Canadian Natural Resources

Several large investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Canadian Natural Resources by 10.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer's stock worth $1,826,578,000 after purchasing an additional 3,397,500 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Canadian Natural Resources during the 1st quarter worth $1,411,619,000. TD Waterhouse Canada Inc. raised its stake in Canadian Natural Resources by 0.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 16,236,328 shares of the oil and gas producer's stock worth $634,507,000 after buying an additional 88,990 shares during the period. JPMorgan Chase & Co. lifted its holdings in Canadian Natural Resources by 1.9% during the fourth quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer's stock worth $484,344,000 after acquiring an additional 260,746 shares in the last quarter. Finally, Amundi lifted its holdings in Canadian Natural Resources by 2.8% during the first quarter. Amundi now owns 7,994,427 shares of the oil and gas producer's stock worth $389,568,000 after acquiring an additional 217,437 shares in the last quarter. Institutional investors own 74.03% of the company's stock.

Canadian Natural Resources Trading Down 0.3%

Shares of CNQ opened at $48.16 on Wednesday. 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 has a market cap of $98.97 billion, a price-to-earnings ratio of 11.89 and a beta of 0.53. The stock has a fifty day moving average price of $48.85 and a two-hundred day moving average price of $46.50. Canadian Natural Resources has a 52-week low of $29.68 and a 52-week high of $52.31.

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

Canadian Natural Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 11th were given a C$0.62 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, September 11th. Canadian Natural Resources's dividend payout ratio (DPR) is currently 44.44%.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development, production, marketing and transportation company headquartered in Calgary, Alberta. The company produces synthetic crude oil, conventional heavy and light crude oil, natural gas liquids and natural gas.

Its operations are concentrated in Western Canada and include oil sands mining and upgrading projects in northern Alberta, conventional and heavy-oil assets, and natural gas production.

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