Canadian Natural Resources Limited (NYSE:CNQ) Earning Somewhat Favorable News Coverage, Study Finds
News articles about Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Canadian Natural Resources Limited earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned media headlines about the oil and gas producer an impact score of 46.4961063853069 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- Canadian Natural Resources Limited (CNQ) Receives C$51.00 Consensus PT from Brokerages (newstrendstoday.com)
- Pioneer Natural Resources Company (PXD) Price Target Cut to $136.00 (vothemes.com)
- Canadian Natural Resources Limited (NYSE:CNQ) Stake Boosted by Sei Investments Co (elcumanes.com)
- Canadian Natural Resources Limited (CNQ) Cut to Sell at Zacks Investment Research (americanbankingnews.com)
Canadian Natural Resources Limited (CNQ) traded down 1.09% on Monday, reaching $30.86. The company had a trading volume of 1,353,520 shares. The stock’s 50-day moving average price is $30.08 and its 200-day moving average price is $30.65. The stock has a market capitalization of $37.50 billion, a P/E ratio of 27.80 and a beta of 1.48. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a dividend of $0.2212 per share. This is an increase from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.87%. Canadian Natural Resources Limited’s dividend payout ratio is presently 78.43%.
Canadian Natural Resources Limited announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 17th that authorizes the company to buyback 27,930,000 outstanding shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
CNQ has been the subject of several research reports. Zacks Investment Research raised Canadian Natural Resources Limited from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Friday, May 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $36.00 price target on shares of Canadian Natural Resources Limited in a report on Thursday, June 22nd. National Bank Financial assumed coverage on Canadian Natural Resources Limited in a report on Tuesday, June 27th. They set an “outperform” rating for the company. BidaskClub raised Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, ValuEngine raised Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $45.50.
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Canadian Natural Resources Limited Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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