Canadian Natural Resources (TSE:CNQ) Cut to Neutral at Gerdes Energy Research

Gerdes Energy Research downgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a neutral rating in a research report report published on Friday morning, BayStreet.CA reports.

Other equities research analysts also recently issued reports about the company. Raymond James lowered their price target on Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating on the stock in a research report on Wednesday, June 12th. Scotiabank dropped their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a research report on Tuesday, June 11th. National Bankshares reduced their price objective on Canadian Natural Resources from C$58.00 to C$52.00 in a research report on Friday, September 27th. Wolfe Research raised shares of Canadian Natural Resources to a hold rating in a research report on Thursday, July 18th. Finally, Desjardins raised their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a research report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of C$85.81.

Canadian Natural Resources Stock Performance

CNQ opened at C$48.22 on Friday. The stock has a 50-day moving average of C$46.98 and a 200-day moving average of C$71.58. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a 52-week low of C$40.02 and a 52-week high of C$56.49. The company has a market cap of C$102.71 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The company had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. As a group, equities research analysts forecast that Canadian Natural Resources will post 3.6036866 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, September 13th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 59.26%.

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).