Canadian Natural Resources (NYSE:CNQ) Lowered to “Buy” at TD Securities

TD Securities lowered shares of Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) to a buy rating in a report released on Friday morning, The Fly reports. The analysts noted that the move was a valuation call.

CNQ has been the topic of a number of other reports. Bank of America raised shares of Canadian Natural Resources from a neutral rating to a buy rating and set a $100.00 price target on the stock in a report on Tuesday, July 19th. StockNews.com assumed coverage on Canadian Natural Resources in a research report on Wednesday, October 12th. They set a hold rating on the stock. Credit Suisse Group reaffirmed a neutral rating on shares of Canadian Natural Resources in a report on Thursday, August 11th. Jefferies Financial Group began coverage on Canadian Natural Resources in a report on Wednesday, October 19th. They issued a hold rating on the stock. Finally, National Bank Financial reduced their target price on Canadian Natural Resources from C$100.00 to C$88.00 in a research note on Friday, September 30th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $88.36.

Canadian Natural Resources Stock Up 0.0 %

Shares of CNQ stock opened at $61.18 on Friday. Canadian Natural Resources has a twelve month low of $37.40 and a twelve month high of $70.60. The stock has a market cap of $67.90 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.57 and a beta of 1.55. The stock has a 50 day moving average of $54.43 and a 200 day moving average of $56.28. The company has a current ratio of 0.85, a quick ratio of 0.65 and a debt-to-equity ratio of 0.29.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Friday, December 16th will be given a dividend of $0.6237 per share. The ex-dividend date of this dividend is Thursday, December 15th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.58. This represents a $2.49 dividend on an annualized basis and a yield of 4.08%. Canadian Natural Resources’s payout ratio is presently 28.45%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its position in shares of Canadian Natural Resources by 57.6% in the second quarter. Captrust Financial Advisors now owns 594 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 217 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Canadian Natural Resources by 133.2% in the 3rd quarter. Hexagon Capital Partners LLC now owns 639 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 365 shares during the last quarter. CWM LLC raised its holdings in shares of Canadian Natural Resources by 232.3% during the 1st quarter. CWM LLC now owns 658 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 460 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of Canadian Natural Resources by 330.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 667 shares of the oil and gas producer’s stock worth $41,000 after acquiring an additional 512 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of Canadian Natural Resources during the 1st quarter valued at about $48,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

About Canadian Natural Resources

(Get Rating)

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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