Analysts Set Canadian Natural Resources Limited (NYSE:CNQ) PT at $51.00

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been given a consensus rating of “Hold” by the four analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $51.00.

Several equities analysts have recently weighed in on CNQ shares. StockNews.com downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, October 8th.

Institutional Investors Weigh In On Canadian Natural Resources

Large investors have recently added to or reduced their stakes in the stock. RFP Financial Group LLC boosted its holdings in shares of Canadian Natural Resources by 98.3% in the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 352 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Canadian Natural Resources by 144.1% in the 3rd quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of Canadian Natural Resources by 91.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 415 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 447 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian Natural Resources in the second quarter valued at about $32,000. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Down 3.0 %

Shares of CNQ stock opened at $32.27 on Wednesday. The company’s fifty day simple moving average is $34.63 and its two-hundred day simple moving average is $35.08. Canadian Natural Resources has a 52 week low of $29.45 and a 52 week high of $41.29. The stock has a market cap of $68.09 billion, a P/E ratio of 12.55 and a beta of 1.47. 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 (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 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 during the quarter, compared to analyst estimates of $6.40 billion. During the same period in the prior year, the company earned $0.96 earnings per share. Analysts predict that Canadian Natural Resources will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm 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 $0.388 dividend. This represents a $1.55 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is 64.59%.

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).