Canadian Natural Resources Limited (NYSE:CNQ) Stock Has Consensus Price Target of $57.00 According to Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.00.

A number of brokerages have commented on CNQ. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research note on Monday, October 19th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Weiss Ratings upgraded shares of Canadian Natural Resources from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Desjardins raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Finally, Raymond James Financial cut shares of Canadian Natural Resources from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 14th.

Institutional Trading of Canadian Natural Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont acquired a new stake in shares of Canadian Natural Resources in the second quarter valued at approximately $26,000. Financial Management Professionals Inc. boosted its stake in shares of Canadian Natural Resources by 280.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 552 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 407 shares during the period. CX Institutional bought a new position in shares of Canadian Natural Resources during the 2nd quarter worth approximately $28,000. Axiom Investment Management LLC acquired a new position in shares of Canadian Natural Resources during the 1st quarter worth approximately $29,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth approximately $30,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources News Roundup

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Adjusted earnings were C$1.18 per share, above the C$1.05 consensus and up from C$0.62 a year earlier. Net profit reportedly rose to C$3 billion from C$600 million, supported by higher energy prices and production. CNQ beats Q3 earnings estimates
• Positive Sentiment: CNQ reached its net-debt target ahead of schedule and plans to accelerate share buybacks, adding to its dividend distributions. That may support shareholder returns. Earnings call highlights: buybacks and production outlook
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, payable January 5, 2027. Improved Horizon reliability and strong thermal production also underpin a more favorable fourth-quarter outlook. Quarterly dividend announcement Production outlook and reliability update
• Neutral Sentiment: Quarterly revenue of C$8.74 billion narrowly missed analysts’ C$8.79 billion estimate, despite the earnings beat. That modest shortfall may have tempered the market response. CNQ quarterly earnings report

Canadian Natural Resources Trading Down 0.9%

NYSE CNQ opened at $48.49 on Friday. The company has a market cap of $99.23 billion, a PE ratio of 9.94 and a beta of 0.45. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. Canadian Natural Resources has a 12 month low of $30.13 and a 12 month high of $56.27. The stock has a 50 day moving average of $50.82 and a 200-day moving average of $46.27.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, November 5th. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.13. The business had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $8.79 billion. Canadian Natural Resources had a net margin of 25.24% and a return on equity of 26.79%. On average, equities research analysts anticipate that Canadian Natural Resources will post 4.10 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be issued a dividend of C$0.62 per share. The ex-dividend date is Tuesday, December 15th. This represents a $2.50 dividend on an annualized basis and a yield of 5.2%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 44.44%.

About Canadian Natural Resources

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. Its operations span several resource types and production methods, including oil sands mining and upgrading, thermal in situ projects, conventional oil and gas production, and offshore assets.

The company’s principal operating areas are in Western Canada, the United Kingdom’s North Sea and offshore Africa.