Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream and refining assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. As of December 31, 2020, the company had total proved crude oil, bitumen, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil, bitumen, and NGLs reserves were 13,271 MMbbl; proved SCO reserves were 6,998 MMbbl; total proved plus probable SCO reserves were 7,535 MMbbl; proved natural gas reserves were 12,168 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 20,249 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.
Canadian Natural Resources Stock Performance
Shares of CNQ Stock opened at $52.69 on Wednesday. The firm has a 50-day moving average of $54.69 and a 200-day moving average of $57.83. The company has a market cap of $59.93 billion, a P/E ratio of 6.91, a P/E/G ratio of 0.50 and a beta of 1.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.65. Canadian Natural Resources has a one year low of $29.53 and a one year high of $70.60.
Canadian Natural Resources Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Friday, September 16th will be issued a $0.5822 dividend. The ex-dividend date is Thursday, September 15th. This represents a $2.33 annualized dividend and a dividend yield of 4.42%. Canadian Natural Resources's dividend payout ratio is currently 31.10%.
Analyst Ratings Changes
Several brokerages recently issued reports on CNQ. National Bank Financial cut their target price on shares of Canadian Natural Resources from C$115.00 to C$100.00 in a research note on Monday, July 18th. Bank of America raised shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Tuesday, July 19th. Stifel Nicolaus increased their target price on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a research note on Thursday, June 30th. Credit Suisse Group raised their price objective on shares of Canadian Natural Resources from C$85.00 to C$93.00 in a research note on Monday, May 9th. Finally, BMO Capital Markets raised their price objective on shares of Canadian Natural Resources from C$92.00 to C$95.00 in a research note on Friday, May 6th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $86.79.