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

Canadian Natural Resources Limited (NYSE:CNQGet Free Report) (TSE:CNQ) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $94.00.

Separately, JPMorgan Chase & Co. upped their price objective on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th.

Check Out Our Latest Report on Canadian Natural Resources

Canadian Natural Resources Price Performance

CNQ opened at $75.10 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 0.25. Canadian Natural Resources has a 12 month low of $51.51 and a 12 month high of $75.99. The company has a fifty day simple moving average of $66.49 and a 200 day simple moving average of $65.36. The stock has a market cap of $80.63 billion, a P/E ratio of 13.56 and a beta of 1.53.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last released its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The business had revenue of $7.02 billion during the quarter, compared to analysts’ expectations of $6.73 billion. On average, research analysts expect that Canadian Natural Resources will post 5.44 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be paid a $0.774 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. This represents a $3.10 dividend on an annualized basis and a yield of 4.12%. Canadian Natural Resources’s dividend payout ratio is presently 53.25%.

Hedge Funds Weigh In On Canadian Natural Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Canadian Natural Resources by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 43,099,191 shares of the oil and gas producer’s stock valued at $2,823,859,000 after acquiring an additional 835,633 shares in the last quarter. FIL Ltd grew its holdings in shares of Canadian Natural Resources by 1.1% in the 4th quarter. FIL Ltd now owns 23,340,567 shares of the oil and gas producer’s stock valued at $1,529,146,000 after acquiring an additional 250,256 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Canadian Natural Resources by 24.4% in the 4th quarter. TD Asset Management Inc now owns 21,562,341 shares of the oil and gas producer’s stock valued at $1,419,556,000 after acquiring an additional 4,224,598 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Canadian Natural Resources by 0.4% in the 4th quarter. 1832 Asset Management L.P. now owns 15,792,161 shares of the oil and gas producer’s stock valued at $1,034,702,000 after acquiring an additional 58,960 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Canadian Natural Resources in the 1st quarter valued at about $960,796,000. 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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