Canadian Natural Resources Limited (NYSE:CNQ) Stock Has Average Target Price of $57.00

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $57.00.

CNQ has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Raymond James Financial restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Wednesday, September 16th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research note on Friday, August 7th. Finally, Zacks Research upgraded Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $49.62 on Wednesday. The firm has a market capitalization of $101.96 billion, a PE ratio of 12.25 and a beta of 0.53. The stock’s fifty day moving average is $48.95 and its 200 day moving average is $46.49. Canadian Natural Resources has a fifty-two week low of $29.68 and a fifty-two week high of $52.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.15. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. The firm had revenue of $14.74 billion during the quarter, compared to analyst estimates of $9.40 billion. On average, sell-side analysts anticipate that Canadian Natural Resources will post 4.05 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 11th were issued a dividend of C$0.62 per share. The ex-dividend date was Friday, September 11th. This represents a $2.50 dividend on an annualized basis and a yield of 5.0%. Canadian Natural Resources’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On Canadian Natural Resources

Several hedge funds have recently bought and sold shares of the business. Axiom Investment Management LLC purchased a new stake in shares of Canadian Natural Resources during the first quarter valued at about $29,000. Byrne Asset Management LLC bought a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at about $30,000. Trust Co. of Vermont purchased a new position in shares of Canadian Natural Resources in the 2nd quarter worth approximately $26,000. CX Institutional purchased a new position in shares of Canadian Natural Resources in the 2nd quarter worth approximately $28,000. Finally, Continuum Advisory LLC purchased a new position in shares of Canadian Natural Resources in the 2nd quarter worth approximately $43,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development, production, marketing and transportation company headquartered in Calgary, Alberta. The company produces synthetic crude oil, conventional heavy and light crude oil, natural gas liquids and natural gas.

Its operations are concentrated in Western Canada and include oil sands mining and upgrading projects in northern Alberta, conventional and heavy-oil assets, and natural gas production.