Canadian Natural Resources (NYSE:CNQ) Rating Increased to Outperform at Raymond James

Raymond James upgraded shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) from a market perform rating to an outperform rating in a research note published on Wednesday morning, MarketBeat Ratings reports.

Several other equities analysts have also weighed in on CNQ. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th. Scotiabank raised shares of Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective on shares of Canadian Natural Resources in a report on Thursday, March 27th. Finally, Evercore ISI raised Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $63.00.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded down $1.57 during trading on Wednesday, reaching $26.25. 3,892,941 shares of the company’s stock were exchanged, compared to its average volume of 7,494,470. Canadian Natural Resources has a twelve month low of $24.65 and a twelve month high of $41.29. The firm’s fifty day moving average price is $29.44 and its 200-day moving average price is $31.83. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $55.14 billion, a PE ratio of 10.19 and a beta of 1.10.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 21st were issued a dividend of $0.4117 per share. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is 77.88%.

Institutional Investors Weigh In On Canadian Natural Resources

A number of large investors have recently bought and sold shares of CNQ. Duncker Streett & Co. Inc. acquired a new stake in shares of Canadian Natural Resources during the 4th quarter worth approximately $25,000. Lee Danner & Bass Inc. bought a new stake in Canadian Natural Resources during the fourth quarter worth $25,000. Continuum Advisory LLC boosted its holdings in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 490 shares in the last quarter. Sandy Spring Bank bought a new position in shares of Canadian Natural Resources in the 4th quarter valued at $31,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Canadian Natural Resources during the 4th quarter worth $31,000. 74.03% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Natural Resources

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).