Canadian Natural Resources (NYSE:CNQ) Stock Price Up 4.8%

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ)’s share price traded up 4.8% on Tuesday . The company traded as high as $34.82 and last traded at $34.81. 2,237,827 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 5,540,809 shares. The stock had previously closed at $33.21.

Analyst Upgrades and Downgrades

CNQ has been the topic of several research reports. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Wolfe Research initiated coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a research report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and an average price target of $49.50.

Canadian Natural Resources Stock Up 4.8 %

The firm’s 50-day simple moving average is $34.51 and its 200 day simple moving average is $36.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.88. The company has a market cap of $74.05 billion, a P/E ratio of 13.23 and a beta of 1.51.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. Canadian Natural Resources had a return on equity of 22.09% and a net margin of 18.05%. The business had revenue of $7.76 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, research analysts forecast that Canadian Natural Resources Limited will post 2.47 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.384 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.41%. Canadian Natural Resources’s dividend payout ratio is 61.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNQ. Capital World Investors grew its holdings in shares of Canadian Natural Resources by 0.5% in the 1st quarter. Capital World Investors now owns 144,344,207 shares of the oil and gas producer’s stock valued at $11,011,765,000 after buying an additional 684,532 shares during the period. Vanguard Group Inc. grew its stake in Canadian Natural Resources by 1.7% in the first quarter. Vanguard Group Inc. now owns 43,813,537 shares of the oil and gas producer’s stock valued at $3,343,849,000 after acquiring an additional 714,346 shares during the period. TD Asset Management Inc increased its holdings in shares of Canadian Natural Resources by 96.2% in the second quarter. TD Asset Management Inc now owns 42,518,833 shares of the oil and gas producer’s stock worth $1,514,190,000 after acquiring an additional 20,843,193 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Canadian Natural Resources by 93.0% during the second quarter. Canada Pension Plan Investment Board now owns 41,464,502 shares of the oil and gas producer’s stock worth $1,476,644,000 after purchasing an additional 19,980,902 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Canadian Natural Resources by 105.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 31,668,045 shares of the oil and gas producer’s stock valued at $1,127,382,000 after purchasing an additional 16,245,046 shares in the last quarter. Institutional investors and hedge funds 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).