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.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Credit Suisse Group restated a "neutral" rating on shares of Canadian Natural Resources in a report on Thursday, August 11th. BMO Capital Markets lifted their price target on Canadian Natural Resources from C$92.00 to C$95.00 in a report on Friday, May 6th. Stifel Nicolaus boosted their target price on Canadian Natural Resources from C$111.00 to C$115.00 in a research note on Thursday, June 30th. National Bank Financial dropped their target price on Canadian Natural Resources from C$115.00 to C$100.00 in a research note on Monday, July 18th. Finally, Scotiabank downgraded Canadian Natural Resources from a "sector outperform" rating to a "sector perform" rating in a research note on Wednesday, June 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.79.
Canadian Natural Resources Stock Performance
Shares of CNQ Stock traded up $0.54 on Tuesday, hitting $55.28. The company had a trading volume of 31,968 shares, compared to its average volume of 2,791,550. The firm has a market cap of $62.11 billion, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 0.54 and a beta of 1.51. The company has a 50-day moving average price of $53.70 and a 200-day moving average price of $58.01. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Canadian Natural Resources has a twelve month low of $29.53 and a twelve month high of $70.60.
Canadian Natural Resources Cuts Dividend
The business also recently disclosed 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 of this dividend is Thursday, September 15th. This represents a $2.33 annualized dividend and a dividend yield of 4.21%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 31.10%.