Canadian Natural Resources (NYSE:CNQ) Upgraded at StockNews.com

StockNews.com upgraded shares of Canadian Natural Resources (NYSE:CNQFree Report) (TSE:CNQ) from a hold rating to a buy rating in a report issued on Tuesday.

Several other equities research analysts also recently weighed in on the company. Raymond James upgraded Canadian Natural Resources to a hold rating in a report on Tuesday, May 28th. Scotiabank reaffirmed a sector perform rating on shares of Canadian Natural Resources in a research report on Tuesday. Finally, Desjardins cut Canadian Natural Resources from a buy rating to a hold rating in a research report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $47.00.

Read Our Latest Analysis on CNQ

Canadian Natural Resources Price Performance

Shares of NYSE CNQ opened at $34.11 on Tuesday. The stock’s 50-day moving average is $38.05 and its two-hundred day moving average is $35.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61. Canadian Natural Resources has a 1-year low of $26.33 and a 1-year high of $41.29. The company has a market cap of $36.50 billion, a price-to-earnings ratio of 6.79 and a beta of 1.50.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas producer reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Analysts forecast that Canadian Natural Resources will post 5.56 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $0.777 dividend. The ex-dividend date of this dividend is Monday, June 17th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.77. This represents a $3.11 dividend on an annualized basis and a dividend yield of 9.11%. Canadian Natural Resources’s dividend payout ratio is 61.55%.

Institutional Trading of Canadian Natural Resources

A number of large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its position in shares of Canadian Natural Resources by 10.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,400,616 shares of the oil and gas producer’s stock valued at $105,543,000 after purchasing an additional 127,549 shares during the period. Granite Group Advisors LLC acquired a new stake in shares of Canadian Natural Resources in the 1st quarter valued at about $203,000. Cetera Advisors LLC boosted its position in shares of Canadian Natural Resources by 61.7% in the 1st quarter. Cetera Advisors LLC now owns 19,821 shares of the oil and gas producer’s stock valued at $1,513,000 after purchasing an additional 7,565 shares during the period. Cetera Investment Advisers lifted its position in Canadian Natural Resources by 305.4% during the 1st quarter. Cetera Investment Advisers now owns 36,858 shares of the oil and gas producer’s stock worth $2,813,000 after acquiring an additional 27,766 shares during the period. Finally, Atria Investments Inc acquired a new stake in Canadian Natural Resources during the 1st quarter worth approximately $1,006,000. 74.03% of the stock is owned by institutional investors and hedge funds.

About Canadian Natural Resources

(Get Free Report)

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).

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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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