Canadian Natural Resources (NYSE:CNQ) Stock Price Passes Above 200-Day Moving Average of $35.34

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.34 and traded as high as $36.87. Canadian Natural Resources shares last traded at $36.35, with a volume of 2,012,969 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on CNQ. Raymond James raised Canadian Natural Resources to a “hold” rating in a research report on Tuesday, May 28th. Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Finally, StockNews.com cut shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

Canadian Natural Resources Price Performance

The firm has a market capitalization of $77.45 billion, a PE ratio of 14.48 and a beta of 1.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.61. The firm has a 50-day simple moving average of $36.86 and a 200-day simple moving average of $35.34.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. As a group, equities analysts forecast that Canadian Natural Resources Limited will post 2.78 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.777 per share. The ex-dividend date of this dividend is Monday, June 17th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.77. This represents a $3.11 annualized dividend and a yield of 8.55%. Canadian Natural Resources’s payout ratio is 60.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CNQ. Park Place Capital Corp raised its position in shares of Canadian Natural Resources by 100.0% during the 2nd quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 358 shares during the period. Central Bank & Trust Co. bought a new stake in shares of Canadian Natural Resources during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC purchased a new stake in shares of Canadian Natural Resources in the fourth quarter valued at approximately $27,000. Principal Securities Inc. purchased a new position in Canadian Natural Resources during the 4th quarter valued at about $35,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in Canadian Natural Resources by 117.8% during the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 245 shares during the period. 74.03% of the stock is currently owned by institutional investors.

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).