Canadian Natural Resources’ (CNQ) Top Pick Rating Reaffirmed at RBC Capital Markets
Other analysts also recently issued research reports about the company. Nomura reissued a buy rating on shares of Canadian Natural Resources in a research note on Monday, June 20th. Bank of America Corp. started coverage on Canadian Natural Resources in a research note on Friday, August 19th. They issued a buy rating and a $38.00 price target on the stock. TD Securities reissued a hold rating and issued a $40.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, August 10th. Macquarie raised Canadian Natural Resources from a neutral rating to an outperform rating in a research note on Friday, August 5th. Finally, Scotiabank reissued an outperform rating and issued a $44.00 price target on shares of Canadian Natural Resources in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $39.07.
Canadian Natural Resources (NYSE:CNQ) traded up 1.52% during mid-day trading on Monday, hitting $32.69. The stock had a trading volume of 442,625 shares. Canadian Natural Resources has a 52 week low of $14.60 and a 52 week high of $32.94. The stock’s 50-day moving average is $31.16 and its 200 day moving average is $30.26. The company’s market capitalization is $36.01 billion.
Canadian Natural Resources (NYSE:CNQ) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Canadian Natural Resources had a negative return on equity of 2.36% and a negative net margin of 3.88%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $1.80 billion. Equities analysts forecast that Canadian Natural Resources will post ($0.60) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 16th were paid a $0.1764 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.71 annualized dividend and a dividend yield of 2.19%. Canadian Natural Resources’s dividend payout ratio is -233.33%.
Several hedge funds have recently modified their holdings of CNQ. Beutel Goodman & Co Ltd. boosted its stake in shares of Canadian Natural Resources by 4.9% in the second quarter. Beutel Goodman & Co Ltd. now owns 20,293,907 shares of the company’s stock valued at $621,812,000 after buying an additional 953,725 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Canadian Natural Resources by 17.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 6,072,800 shares of the company’s stock worth $242,062,000 after buying an additional 886,700 shares during the period. Atalanta Sosnoff Capital LLC boosted its stake in shares of Canadian Natural Resources by 68.6% in the second quarter. Atalanta Sosnoff Capital LLC now owns 1,860,638 shares of the company’s stock worth $57,363,000 after buying an additional 756,965 shares during the period. HBK Investments L P purchased a new stake in shares of Canadian Natural Resources during the first quarter worth approximately $964,000. Finally, Robotti Robert boosted its stake in shares of Canadian Natural Resources by 520.0% in the first quarter. Robotti Robert now owns 271,249 shares of the company’s stock worth $7,324,000 after buying an additional 227,500 shares during the period. 69.19% of the stock is currently owned by institutional investors.
About Canadian Natural Resources
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). Its exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.
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