TD Securities upgraded shares of Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) to a buy rating in a report released on Thursday, The Fly reports.
A number of other brokerages also recently commented on CNQ. StockNews.com downgraded Canadian Natural Resources from a buy rating to a hold rating in a research report on Tuesday, September 13th. Stifel Nicolaus boosted their price target on shares of Canadian Natural Resources from C$111.00 to C$115.00 in a research report on Thursday, June 30th. Bank of America upgraded shares of Canadian Natural Resources from a neutral rating to a buy rating and set a $100.00 price objective for the company in a research report on Tuesday, July 19th. Credit Suisse Group reiterated a neutral rating on shares of Canadian Natural Resources in a report on Thursday, August 11th. Finally, National Bank Financial cut their price target on shares of Canadian Natural Resources from C$115.00 to C$100.00 in a report on Monday, July 18th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Canadian Natural Resources currently has a consensus rating of Hold and a consensus price target of $85.93.
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Canadian Natural Resources Price Performance
Canadian Natural Resources stock opened at $46.57 on Thursday. The company has a fifty day simple moving average of $53.28 and a 200-day simple moving average of $57.62. The firm has a market capitalization of $51.90 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 0.56 and a beta of 1.48. The company has a quick ratio of 0.65, a current ratio of 0.85 and a debt-to-equity ratio of 0.29. Canadian Natural Resources has a 52-week low of $36.37 and a 52-week high of $70.60.
Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) last posted its quarterly earnings results on Thursday, August 4th. The oil and gas producer reported $2.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.47. The firm had revenue of $8.99 billion for the quarter, compared to analyst estimates of $7.84 billion. Canadian Natural Resources had a net
margin of 25.39% and a return on equity of 31.63%. On average, equities analysts anticipate that Canadian Natural Resources will post 9.15 EPS for the current fiscal year.
Canadian Natural Resources Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Friday, September 16th will be given a dividend of $0.5822 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.33 annualized dividend and a dividend yield of 5.00%. Canadian Natural Resources's dividend payout ratio is presently 30.05%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in CNQ. Capital World Investors boosted its position in Canadian Natural Resources by 25.4% in the 1st quarter. Capital World Investors now owns 124,407,484 shares of the oil and gas producer's stock valued at $7,703,436,000 after buying an additional 25,232,354 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Canadian Natural Resources in the first quarter valued at $960,796,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Canadian Natural Resources by 8,625.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,753,690 shares of the oil and gas producer's stock valued at $309,161,000 after purchasing an additional 5,687,748 shares during the period. Capital Research Global Investors increased its holdings in Canadian Natural Resources by 4.1% during the 4th quarter. Capital Research Global Investors now owns 121,275,042 shares of the oil and gas producer's stock worth $5,124,376,000 after purchasing an additional 4,822,542 shares during the period. Finally, Capital International Investors raised its position in Canadian Natural Resources by 88.2% in the 1st quarter. Capital International Investors now owns 7,930,544 shares of the oil and gas producer's stock valued at $491,064,000 after purchasing an additional 3,716,523 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.
About Canadian Natural Resources
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Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.
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