Zacks reissued their neutral rating on shares of Canadian Natrl Res (NYSE:CNQ) in a research report sent to investors on Thursday morning, Stock Ratings News reports. The firm currently has a $34.00 price target on the stock.
Zacks’ analyst wrote, “We are maintaining our Neutral investment thesis on Canadian Natural Resources, reflecting a balanced risk/reward profile. The company’s large, diversified oil and gas asset bases, together with international exposure and a well-balanced blend of conventional and unconventional prospects, provides a buffer against uncertainties in the sector. Other positives for CNQ include its active hedging policy, competitive cost structure, strong balance sheet and robust free cash flow. However, the company s exposure to the inherently cyclical and volatile E&P sector offsets these strengths and remains a key area of concern, in our view. The stock has also been held back by operational challenges, continued volatility in natural gas prices and a fresh round of cost inflation in the oil sands regions.”
Zacks has also modified their ratings on a number of other basic materials stocks in the few days. The firm upgraded shares of Planar Systems from a neutral rating to an outperform rating. The firm now has a $2.60 price target on that stock. Also, Zacks downgraded shares of StealthGas from a neutral rating to an underperform rating. Their analysts now have a $11.50 price target on that stock. Finally, Zacks downgraded shares of Partner Communications Company Ltd from an outperform rating to a neutral rating. Their analysts now have a $10.50 price target on that stock.
Canadian Natrl Res (NYSE:CNQ) opened at 32.39 on Thursday. Canadian Natrl Res has a 52-week low of $26.98 and a 52-week high of $33.79. The stock’s 50-day moving average is $31.9 and its 200-day moving average is $30.88. The company has a market cap of $35.173 billion and a price-to-earnings ratio of 15.75.
Canadian Natrl Res (NYSE:CNQ) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.09. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter last year, the company posted $0.32 earnings per share. Canadian Natrl Res’s revenue was up 32.8% compared to the same quarter last year. On average, analysts predict that Canadian Natrl Res will post $2.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.19 per share. This represents a $0.77 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, December 11th.
Several other analysts have also recently commented on the stock. Analysts at Scotiabank reiterated a sector outperform rating on shares of Canadian Natrl Res in a research note to investors on Friday, November 8th. They now have a $42.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Canadian Natrl Res from $40.00 to $41.00 in a research note to investors on Friday, November 8th. They now have an outperform rating on the stock. Finally, analysts at National Bank Financial raised their price target on shares of Canadian Natrl Res from $40.00 to $42.00 in a research note to investors on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $38.27.
Canadian Natural Resources Limited (NYSE:CNQ) is an independent crude oil and natural gas exploration, development and production company.
To view Zacks’ full report, visit www.zacks.com
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