Canadian Natural Resources Limited (NYSE:CNQ) Receives $49.50 Consensus Price Target from Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been given a consensus rating of “Hold” by the five analysts that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $49.50.

A number of research firms have issued reports on CNQ. Wolfe Research began coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Finally, StockNews.com lowered shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $35.70 on Tuesday. The firm’s 50 day moving average price is $34.99 and its 200-day moving average price is $36.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. Canadian Natural Resources has a one year low of $29.45 and a one year high of $41.29. The firm has a market cap of $75.97 billion, a P/E ratio of 14.22 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The company had revenue of $7.76 billion for the quarter, compared to analyst estimates of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same period in the prior year, the business earned $0.43 EPS. As a group, equities research analysts predict that Canadian Natural Resources will post 2.5 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 66.14%.

Institutional Investors Weigh In On Canadian Natural Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Park Place Capital Corp grew its position in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 358 shares during the last quarter. RFP Financial Group LLC grew its position in shares of Canadian Natural Resources by 98.3% in the 2nd quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 352 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in shares of Canadian Natural Resources by 100.0% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 364 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Canadian Natural Resources by 91.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 415 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Canadian Natural Resources by 104.7% in the 2nd quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Company Profile

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).