Canadian Natural Resources (NYSE:CNQ) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) from a neutral rating to a buy rating in a report released on Monday morning, MarketBeat.com reports. The Goldman Sachs Group currently has $69.00 target price on the oil and gas producer’s stock, up from their previous target price of $62.00.

CNQ has been the topic of a number of other research reports. Jefferies Financial Group initiated coverage on Canadian Natural Resources in a research report on Wednesday, October 19th. They issued a hold rating on the stock. TD Securities cut Canadian Natural Resources to a buy rating in a research report on Friday, November 4th. They noted that the move was a valuation call. Raymond James raised their price target on Canadian Natural Resources from C$85.00 to C$87.00 in a research report on Friday, November 4th. StockNews.com upgraded Canadian Natural Resources from a hold rating to a buy rating in a research report on Thursday, November 17th. Finally, National Bank Financial decreased their target price on Canadian Natural Resources from C$100.00 to C$88.00 in a research report on Friday, September 30th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $88.14.

Canadian Natural Resources Stock Down 1.3 %

Shares of NYSE CNQ opened at $59.97 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.58 and a current ratio of 0.78. Canadian Natural Resources has a 52 week low of $37.40 and a 52 week high of $70.60. The stock has a market capitalization of $66.41 billion, a P/E ratio of 7.45, a PEG ratio of 0.56 and a beta of 1.55. The stock’s fifty day moving average is $55.83 and its 200 day moving average is $56.14.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 5th. Stockholders of record on Friday, December 16th will be paid a dividend of $0.6237 per share. This represents a $2.49 dividend on an annualized basis and a dividend yield of 4.16%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, December 15th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 28.45%.

Institutional Trading of Canadian Natural Resources

A number of hedge funds have recently made changes to their positions in CNQ. SG Americas Securities LLC boosted its stake in shares of Canadian Natural Resources by 184.9% during the first quarter. SG Americas Securities LLC now owns 9,402 shares of the oil and gas producer’s stock valued at $583,000 after purchasing an additional 6,102 shares in the last quarter. FDx Advisors Inc. acquired a new position in shares of Canadian Natural Resources in the first quarter worth approximately $200,000. Advisor Group Holdings Inc. lifted its stake in shares of Canadian Natural Resources by 8.5% in the first quarter. Advisor Group Holdings Inc. now owns 74,633 shares of the oil and gas producer’s stock worth $4,510,000 after acquiring an additional 5,854 shares during the period. National Bank of Canada FI lifted its stake in shares of Canadian Natural Resources by 7.3% in the first quarter. National Bank of Canada FI now owns 1,308,038 shares of the oil and gas producer’s stock worth $81,669,000 after acquiring an additional 88,724 shares during the period. Finally, Solstein Capital LLC lifted its stake in shares of Canadian Natural Resources by 34.3% in the first quarter. Solstein Capital LLC now owns 13,427 shares of the oil and gas producer’s stock worth $832,000 after acquiring an additional 3,430 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Canadian Natural Resources (NYSE:CNQ)

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