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

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been given an average rating of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $63.00.

A number of research firms have recently commented on CNQ. Evercore ISI upgraded shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research report on Friday. Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $28.33 on Monday. The business’s fifty day moving average is $30.46 and its 200 day moving average is $32.67. The firm has a market cap of $59.56 billion, a price-to-earnings ratio of 11.00 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 0.84. Canadian Natural Resources has a 52-week low of $25.62 and a 52-week high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be paid a $0.4117 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 61.87%.

Hedge Funds Weigh In On Canadian Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of CNQ. Janney Montgomery Scott LLC grew its position in Canadian Natural Resources by 21.2% in the third quarter. Janney Montgomery Scott LLC now owns 26,900 shares of the oil and gas producer’s stock worth $893,000 after acquiring an additional 4,702 shares in the last quarter. Old West Investment Management LLC increased its position in shares of Canadian Natural Resources by 73.9% during the 3rd quarter. Old West Investment Management LLC now owns 355,983 shares of the oil and gas producer’s stock valued at $11,822,000 after purchasing an additional 151,237 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Canadian Natural Resources by 80.7% during the 3rd quarter. Lindbrook Capital LLC now owns 6,322 shares of the oil and gas producer’s stock valued at $210,000 after buying an additional 2,824 shares in the last quarter. Ted Buchan & Co raised its holdings in shares of Canadian Natural Resources by 2.7% during the 3rd quarter. Ted Buchan & Co now owns 20,483 shares of the oil and gas producer’s stock valued at $680,000 after buying an additional 540 shares in the last quarter. Finally, Meixler Investment Management Ltd. lifted its position in Canadian Natural Resources by 10.0% in the 3rd quarter. Meixler Investment Management Ltd. now owns 149,806 shares of the oil and gas producer’s stock worth $4,975,000 after buying an additional 13,594 shares during the last quarter. Hedge funds and other 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).