Canadian Natural Resources Limited (NYSE:CNQ) Given Consensus Recommendation of “Hold” by Analysts

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been given an average rating of “Hold” by the four ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $51.00.

Separately, Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th.

Institutional Trading of Canadian Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of CNQ. Continuum Advisory LLC grew its holdings in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 490 shares during the period. Coastline Trust Co purchased a new stake in shares of Canadian Natural Resources in the 3rd quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new position in Canadian Natural Resources during the 3rd quarter valued at approximately $37,000. Sound Income Strategies LLC bought a new stake in Canadian Natural Resources in the third quarter worth $46,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Canadian Natural Resources by 58.4% in the third quarter. First Horizon Advisors Inc. now owns 1,432 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 528 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at $30.16 on Friday. The firm has a market cap of $63.54 billion, a PE ratio of 11.71 and a beta of 1.47. The company’s fifty day simple moving average is $33.10 and its two-hundred day simple moving average is $34.35. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. Canadian Natural Resources has a 12-month low of $29.23 and a 12-month high of $41.29.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. Canadian Natural Resources had a return on equity of 20.07% and a net margin of 18.45%. The company had revenue of $7.62 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, equities analysts expect that Canadian Natural Resources will post 2.47 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a dividend of $0.388 per share. The ex-dividend date is Friday, December 13th. This represents a $1.55 annualized dividend and a yield of 5.15%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 64.59%.

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).