Canadian Natural Resources Limited’s (CNQ) “Buy” Rating Reiterated at Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in a research note issued to investors on Thursday, November 2nd. They currently have a $48.00 price objective on the oil and gas producer’s stock.

Several other analysts also recently weighed in on CNQ. Citigroup Inc. downgraded shares of Canadian Natural Resources Limited from a buy rating to a neutral rating and decreased their price target for the company from $40.00 to $33.00 in a research note on Friday, July 21st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Canadian Natural Resources Limited from a hold rating to a buy rating and set a $38.00 price target for the company in a research note on Wednesday, October 4th. ValuEngine raised shares of Canadian Natural Resources Limited from a sell rating to a hold rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley raised shares of Canadian Natural Resources Limited from an equal weight rating to an overweight rating and set a $46.00 price objective for the company in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $45.90.

Shares of Canadian Natural Resources Limited (NYSE CNQ) traded down $1.64 during trading hours on Thursday, hitting $34.42. The company’s stock had a trading volume of 2,818,700 shares, compared to its average volume of 2,487,297. Canadian Natural Resources Limited has a fifty-two week low of $27.52 and a fifty-two week high of $36.79. The stock has a market capitalization of $43,926.13, a price-to-earnings ratio of 39.63, a PEG ratio of 8.66 and a beta of 1.49. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 0.67.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Tuesday, December 12th will be given a $0.214 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.49%. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is currently 52.07%.

Institutional investors have recently modified their holdings of the business. FTB Advisors Inc. raised its position in shares of Canadian Natural Resources Limited by 1.3% during the 2nd quarter. FTB Advisors Inc. now owns 3,180 shares of the oil and gas producer’s stock worth $102,000 after purchasing an additional 41 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in shares of Canadian Natural Resources Limited by 1.1% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 37,000 shares of the oil and gas producer’s stock worth $1,067,000 after purchasing an additional 400 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Canadian Natural Resources Limited by 0.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 204,244 shares of the oil and gas producer’s stock worth $5,890,000 after purchasing an additional 637 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Canadian Natural Resources Limited by 12.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,903 shares of the oil and gas producer’s stock worth $259,000 after purchasing an additional 763 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Canadian Natural Resources Limited by 14.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,545 shares of the oil and gas producer’s stock worth $246,000 after purchasing an additional 1,107 shares during the last quarter. Institutional investors and hedge funds own 58.64% of the company’s stock.

About Canadian Natural Resources Limited

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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