Mizuho began coverage on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a report issued on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $45.00 target price on the oil and gas producer’s stock.
A number of other equities research analysts have also recently weighed in on CNQ. Zacks Investment Research raised Canadian Natural Resources from a strong sell rating to a hold rating in a report on Monday, February 11th. ValuEngine cut Canadian Natural Resources from a hold rating to a sell rating in a report on Tuesday, March 5th. Citigroup dropped their price target on Canadian Natural Resources from $38.00 to $29.00 and set a neutral rating for the company in a report on Friday, December 7th. Morgan Stanley reaffirmed a buy rating on shares of Canadian Natural Resources in a report on Tuesday, January 29th. Finally, TD Securities reaffirmed a buy rating on shares of Canadian Natural Resources in a report on Friday, December 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $44.00.
CNQ stock opened at $27.91 on Monday. Canadian Natural Resources has a fifty-two week low of $21.85 and a fifty-two week high of $38.20. The firm has a market cap of $32.82 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 4.51 and a beta of 1.18. The company has a quick ratio of 0.43, a current ratio of 0.63 and a debt-to-equity ratio of 0.61.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 22nd will be paid a $0.2821 dividend. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.26. This represents a $1.13 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Thursday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is 46.98%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNQ. IFP Advisors Inc increased its stake in shares of Canadian Natural Resources by 71.7% in the 4th quarter. IFP Advisors Inc now owns 1,042 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 435 shares during the period. Bremer Trust National Association acquired a new stake in shares of Canadian Natural Resources in the 4th quarter valued at $28,000. Worth Venture Partners LLC acquired a new stake in shares of Canadian Natural Resources in the 3rd quarter valued at $131,000. Quadrant Capital Group LLC increased its stake in shares of Canadian Natural Resources by 7.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,183 shares of the oil and gas producer’s stock valued at $142,000 after buying an additional 454 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Canadian Natural Resources by 19,853.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock valued at $197,000 after buying an additional 5,956 shares during the period. 65.86% of the stock is owned by institutional investors.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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