Canadian Natural Resources Limited (NYSE:CNQ) Receives $94.00 Consensus Price Target from Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $94.00.

A number of brokerages have recently issued reports on CNQ. JPMorgan Chase & Co. boosted their price objective on Canadian Natural Resources from $101.00 to $102.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd.

Canadian Natural Resources Stock Up 0.8 %

Shares of CNQ opened at $77.97 on Tuesday. The company has a market capitalization of $83.59 billion, a PE ratio of 14.07 and a beta of 1.54. Canadian Natural Resources has a 12 month low of $52.66 and a 12 month high of $82.58. The stock’s 50-day moving average price is $74.12 and its two-hundred day moving average price is $67.79. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, topping the consensus estimate of $1.59 by $0.13. The firm had revenue of $7.02 billion for the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a return on equity of 21.74% and a net margin of 20.15%. On average, analysts anticipate that Canadian Natural Resources will post 5.71 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.774 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, March 14th. Canadian Natural Resources’s payout ratio is presently 53.25%.

Institutional Trading of Canadian Natural Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNQ. Raymond James Financial Services Advisors Inc. increased its holdings in Canadian Natural Resources by 993.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 206,580 shares of the oil and gas producer’s stock worth $13,535,000 after purchasing an additional 187,694 shares in the last quarter. Cerity Partners LLC increased its holdings in Canadian Natural Resources by 556.7% during the 4th quarter. Cerity Partners LLC now owns 96,338 shares of the oil and gas producer’s stock worth $6,312,000 after purchasing an additional 81,669 shares in the last quarter. Baskin Financial Services Inc. increased its holdings in Canadian Natural Resources by 3.5% during the 4th quarter. Baskin Financial Services Inc. now owns 464,287 shares of the oil and gas producer’s stock worth $30,406,000 after purchasing an additional 15,546 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Canadian Natural Resources by 130.6% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the oil and gas producer’s stock worth $10,292,000 after purchasing an additional 89,700 shares in the last quarter. Finally, NewEdge Wealth LLC grew its holdings in shares of Canadian Natural Resources by 10.8% in the fourth quarter. NewEdge Wealth LLC now owns 456,414 shares of the oil and gas producer’s stock valued at $29,904,000 after acquiring an additional 44,568 shares in the last quarter. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Company Profile

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).