BMO Capital Markets reissued their buy rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research note released on Monday. BMO Capital Markets currently has a $45.00 price objective on the oil and gas producer’s stock.
Other equities analysts have also recently issued research reports about the company. Canaccord Genuity reiterated a buy rating and issued a $50.00 price target on shares of Canadian Natural Resources in a report on Tuesday, November 20th. CIBC began coverage on Canadian Natural Resources in a report on Friday, October 5th. They set a sector outperform rating on the stock. TD Securities restated a buy rating on shares of Canadian Natural Resources in a report on Friday, December 7th. GMP Securities restated a buy rating on shares of Canadian Natural Resources in a report on Monday, December 10th. Finally, Royal Bank of Canada restated an average rating and set a $45.00 target price on shares of Canadian Natural Resources in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $44.43.
Canadian Natural Resources stock opened at $26.65 on Monday. The stock has a market capitalization of $32.05 billion, a P/E ratio of 32.10, a PEG ratio of 3.87 and a beta of 1.17. Canadian Natural Resources has a 12-month low of $21.85 and a 12-month high of $38.20. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.45. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.19 earnings per share. As a group, equities analysts predict that Canadian Natural Resources will post 2.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Shareholders of record on Monday, December 10th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Friday, December 7th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 121.69%.
A number of institutional investors and hedge funds have recently modified their holdings of CNQ. Capital World Investors boosted its holdings in Canadian Natural Resources by 152.8% during the third quarter. Capital World Investors now owns 37,457,594 shares of the oil and gas producer’s stock worth $1,223,704,000 after buying an additional 22,638,074 shares during the last quarter. Capital International Investors lifted its holdings in shares of Canadian Natural Resources by 201.3% during the 3rd quarter. Capital International Investors now owns 10,484,015 shares of the oil and gas producer’s stock valued at $342,506,000 after purchasing an additional 7,003,917 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Canadian Natural Resources by 30.9% during the 3rd quarter. Mackenzie Financial Corp now owns 20,472,453 shares of the oil and gas producer’s stock valued at $668,630,000 after purchasing an additional 4,838,504 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Canadian Natural Resources by 78.4% during the 3rd quarter. Franklin Resources Inc. now owns 7,388,465 shares of the oil and gas producer’s stock valued at $241,224,000 after purchasing an additional 3,246,524 shares in the last quarter. Finally, GMT Capital Corp lifted its holdings in shares of Canadian Natural Resources by 499.9% during the 2nd quarter. GMT Capital Corp now owns 2,945,422 shares of the oil and gas producer’s stock valued at $106,245,000 after purchasing an additional 2,454,400 shares in the last quarter. Hedge funds and other institutional investors own 66.55% of the company’s stock.
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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