Canadian Natural Resources Limited (NYSE:CNQ) Receives $63.00 Consensus PT from Analysts

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $63.00.

Several equities research analysts have issued reports on CNQ shares. 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 reissued an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a report on Thursday, March 27th. Scotiabank raised Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a report on Friday, March 7th. Finally, Tudor Pickering cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $25.18 on Friday. The stock has a market cap of $52.90 billion, a PE ratio of 9.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. The firm has a 50-day moving average of $29.55 and a 200-day moving average of $31.90. Canadian Natural Resources has a 52-week low of $24.93 and a 52-week high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were issued a dividend of $0.4117 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is 77.88%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer’s stock valued at $2,857,337,000 after buying an additional 7,372,718 shares in the last quarter. Vanguard Group Inc. increased its stake in Canadian Natural Resources by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 90,002,235 shares of the oil and gas producer’s stock valued at $2,778,729,000 after acquiring an additional 456,814 shares during the last quarter. Fisher Asset Management LLC increased its stake in Canadian Natural Resources by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 44,131,266 shares of the oil and gas producer’s stock valued at $1,362,332,000 after acquiring an additional 550,242 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Canadian Natural Resources by 5.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 36,963,702 shares of the oil and gas producer’s stock valued at $1,139,753,000 after purchasing an additional 1,844,700 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Canadian Natural Resources by 7.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,052,775 shares of the oil and gas producer’s stock worth $1,051,210,000 after purchasing an additional 2,312,437 shares during the last quarter. Institutional investors and hedge funds 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).