Canadian Natural Resources Limited (NYSE:CNQ) Given Average Rating of “Hold” by Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been given an average rating of “Hold” by the six ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $63.00.

CNQ has been the topic of several recent analyst reports. Raymond James restated a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday, March 7th. Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th.

Canadian Natural Resources Price Performance

CNQ opened at $29.40 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $30.25 and its 200 day simple moving average is $32.46. The firm has a market cap of $61.76 billion, a price-to-earnings ratio of 11.42 and a beta of 1.48. Canadian Natural Resources has a 1 year low of $25.62 and a 1 year high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be given a $0.4117 dividend. This represents a $1.65 annualized dividend and a dividend yield of 5.60%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 77.88%.

Hedge Funds Weigh In On Canadian Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter worth about $25,000. Lee Danner & Bass Inc. bought a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $25,000. Continuum Advisory LLC lifted its stake in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 490 shares during the period. Sandy Spring Bank bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $31,000. Finally, CoreFirst Bank & Trust purchased a new stake in Canadian Natural Resources in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

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).