Canadian Natural Resources Limited (NYSE:CNQ) Given Average Recommendation of “Moderate Buy” by Brokerages

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $63.00.

Several equities analysts recently weighed in on CNQ shares. Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target on shares of Canadian Natural Resources in a research report on Thursday, March 27th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a report on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, March 19th. Finally, Raymond James raised Canadian Natural Resources from a “market perform” rating to an “outperform” rating in a research note on Wednesday.

Canadian Natural Resources Stock Performance

Shares of NYSE:CNQ opened at $26.24 on Friday. The stock has a market capitalization of $55.03 billion, a P/E ratio of 10.19 and a beta of 1.10. The company has a current ratio of 0.84, a quick ratio of 0.53 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a 1-year low of $24.65 and a 1-year high of $41.29. The business has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $31.77.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a $0.4117 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 6.28%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 21st. Canadian Natural Resources’s payout ratio is presently 77.88%.

Hedge Funds Weigh In On Canadian Natural Resources

Several institutional investors have recently modified their holdings of CNQ. Duncker Streett & Co. Inc. acquired a new stake in Canadian Natural Resources during the 4th quarter worth approximately $25,000. Lee Danner & Bass Inc. bought a new stake in shares of Canadian Natural Resources during the fourth quarter worth $25,000. Continuum Advisory LLC raised its holdings in shares of Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 490 shares during the period. Sandy Spring Bank bought a new stake in Canadian Natural Resources in the 4th quarter valued at $31,000. Finally, CoreFirst Bank & Trust acquired a new position in Canadian Natural Resources in the 4th quarter worth $31,000. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources Company Profile

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).