Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its target price lowered by Citigroup from $38.00 to $29.00 in a research note released on Friday morning. The firm currently has a neutral rating on the oil and gas producer’s stock.
A number of other equities research analysts have also recently commented on CNQ. BMO Capital Markets reiterated a buy rating on shares of Canadian Natural Resources in a report on Thursday. Morgan Stanley cut their price target on shares of Canadian Natural Resources from $60.00 to $50.00 and set an overweight rating on the stock in a report on Tuesday, November 20th. Zacks Investment Research cut shares of Canadian Natural Resources from a hold rating to a sell rating in a report on Wednesday, October 3rd. Royal Bank of Canada cut shares of Canadian Natural Resources from a top pick rating to an outperform rating and set a $38.40 price target on the stock. in a report on Thursday, September 20th. They noted that the move was a valuation call. Finally, Raymond James reiterated a buy rating on shares of Canadian Natural Resources in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Canadian Natural Resources has an average rating of Buy and an average target price of $43.23.
Shares of NYSE:CNQ traded up $0.79 during trading on Friday, reaching $26.93. 5,783,352 shares of the stock traded hands, compared to its average volume of 3,760,202. Canadian Natural Resources has a 52-week low of $24.02 and a 52-week high of $38.20. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The stock has a market cap of $31.82 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.68 and a beta of 1.34.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.45. Canadian Natural Resources had a net margin of 15.94% and a return on equity of 12.33%. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, sell-side analysts anticipate that Canadian Natural Resources will post 2.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.79%. The ex-dividend date is Friday, December 7th. Canadian Natural Resources’s dividend payout ratio is currently 124.10%.
Hedge funds have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp boosted its holdings in Canadian Natural Resources by 55.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 7,440,117 shares of the oil and gas producer’s stock worth $268,373,000 after purchasing an additional 2,641,812 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Canadian Natural Resources by 7.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,537,437 shares of the oil and gas producer’s stock worth $148,193,000 after purchasing an additional 327,823 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in Canadian Natural Resources by 5.8% in the second quarter. Mawer Investment Management Ltd. now owns 8,304,750 shares of the oil and gas producer’s stock worth $299,994,000 after purchasing an additional 456,451 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Canadian Natural Resources by 50.0% in the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 1,800 shares during the last quarter. Finally, AGF Investments Inc. boosted its holdings in Canadian Natural Resources by 12.3% in the second quarter. AGF Investments Inc. now owns 2,570,640 shares of the oil and gas producer’s stock worth $92,783,000 after purchasing an additional 281,662 shares during the last quarter. Institutional investors own 66.30% of the company’s stock.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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