Canadian Natural Resources Limited (NYSE:CNQ) Given Average Rating of “Hold” by Brokerages

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $94.00.

A number of analysts have commented on CNQ shares. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th.

Canadian Natural Resources Stock Performance

NYSE CNQ opened at $78.18 on Tuesday. The stock’s 50 day simple moving average is $74.42 and its 200-day simple moving average is $67.90. Canadian Natural Resources has a 1-year low of $52.66 and a 1-year high of $82.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.69. The company has a market cap of $83.82 billion, a PE ratio of 14.11 and a beta of 1.54.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.13. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. As a group, equities research analysts anticipate that Canadian Natural Resources will post 5.71 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.774 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. This represents a $3.10 dividend on an annualized basis and a yield of 3.96%. Canadian Natural Resources’s dividend payout ratio is currently 53.25%.

Institutional Investors Weigh In On Canadian Natural Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Central Bank & Trust Co. purchased a new position in shares of Canadian Natural Resources during the 4th quarter worth $26,000. GAMMA Investing LLC purchased a new position in Canadian Natural Resources during the fourth quarter worth about $27,000. Principal Securities Inc. acquired a new stake in shares of Canadian Natural Resources during the fourth quarter valued at about $35,000. Bruce G. Allen Investments LLC raised its stake in shares of Canadian Natural Resources by 117.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 245 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Canadian Natural Resources in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 74.03% of the company’s stock.

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).