Canadian Natural Resources’ (CNQ) “Buy” Rating Reaffirmed at TD Securities

TD Securities restated their buy rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research note issued to investors on Friday morning.

CNQ has been the subject of several other research reports. Zacks Investment Research downgraded Canadian Natural Resources from a hold rating to a sell rating in a research note on Wednesday, October 3rd. Royal Bank of Canada downgraded Canadian Natural Resources from a top pick rating to an outperform rating and set a $38.40 target price for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. Macquarie downgraded Canadian Natural Resources from an outperform rating to a neutral rating in a research note on Tuesday, October 9th. Raymond James reaffirmed a buy rating on shares of Canadian Natural Resources in a research note on Friday, November 2nd. Finally, Morgan Stanley lowered their price objective on Canadian Natural Resources from $64.00 to $60.00 and set an overweight rating for the company in a research note on Friday, October 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. Canadian Natural Resources has a consensus rating of Buy and a consensus price target of $43.23.

NYSE CNQ traded up $0.79 during trading on Friday, hitting $26.93. 5,783,352 shares of the company’s stock were exchanged, compared to its average volume of 3,760,202. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58. The company has a market cap of $31.82 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.68 and a beta of 1.34. Canadian Natural Resources has a fifty-two week low of $24.02 and a fifty-two week high of $38.20.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.45. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.71 billion. Canadian Natural Resources had a return on equity of 12.33% and a net margin of 15.94%. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, sell-side analysts predict that Canadian Natural Resources will post 2.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Monday, December 10th will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, December 7th. Canadian Natural Resources’s dividend payout ratio is currently 124.10%.

Several institutional investors have recently added to or reduced their stakes in CNQ. Acadian Asset Management LLC increased its stake in shares of Canadian Natural Resources by 192.9% in the second quarter. Acadian Asset Management LLC now owns 8,200 shares of the oil and gas producer’s stock valued at $296,000 after buying an additional 5,400 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Canadian Natural Resources by 8.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,638 shares of the oil and gas producer’s stock valued at $1,141,000 after acquiring an additional 2,388 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in Canadian Natural Resources by 13.7% in the second quarter. Virginia Retirement Systems ET AL now owns 151,300 shares of the oil and gas producer’s stock valued at $5,458,000 after acquiring an additional 18,200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Canadian Natural Resources in the second quarter valued at approximately $1,706,000. Finally, Morningstar Investment Services LLC boosted its holdings in Canadian Natural Resources by 18.3% in the second quarter. Morningstar Investment Services LLC now owns 11,821 shares of the oil and gas producer’s stock valued at $426,000 after acquiring an additional 1,828 shares during the last quarter. 66.30% of the stock is owned by institutional investors.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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