Canadian Natural Resources Limited (NYSE:CNQ) Receives Consensus Recommendation of “Hold” from Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $94.00.

Separately, Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd.

Canadian Natural Resources Price Performance

Shares of NYSE:CNQ opened at $76.62 on Friday. Canadian Natural Resources has a twelve month low of $52.66 and a twelve month high of $82.58. The firm has a market capitalization of $82.15 billion, a PE ratio of 15.26 and a beta of 1.52. The company has a quick ratio of 0.61, a current ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $76.93 and a two-hundred day moving average price of $69.27.

Canadian Natural Resources’s stock is scheduled to split before the market opens on Tuesday, June 11th. The 2-1 split was announced on Tuesday, June 11th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, June 11th.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). Canadian Natural Resources had a net margin of 18.21% and a return on equity of 20.58%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.01 billion. Equities analysts forecast that Canadian Natural Resources will post 5.53 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a $0.777 dividend. This represents a $3.11 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Monday, June 17th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.77. Canadian Natural Resources’s dividend payout ratio is presently 61.55%.

Hedge Funds Weigh In On Canadian Natural Resources

Institutional investors have recently bought and sold shares of the stock. Central Bank & Trust Co. purchased a new stake in Canadian Natural Resources in the fourth quarter worth about $26,000. GAMMA Investing LLC purchased a new position in Canadian Natural Resources during the fourth quarter valued at approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $35,000. Bruce G. Allen Investments LLC raised its position in shares of Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 245 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Canadian Natural Resources during the 1st quarter valued at about $37,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

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).