Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has earned a consensus recommendation of “Buy” from the sixteen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $47.44.

CNQ has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research note on Wednesday, July 19th. Canaccord Genuity reiterated a “buy” rating and set a $47.00 target price on shares of Canadian Natural Resources Limited in a research note on Tuesday, September 5th. Citigroup Inc. cut Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $33.00 in a research note on Friday, July 21st. They noted that the move was a valuation call. Zacks Investment Research cut Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, ValuEngine upgraded Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.

A number of hedge funds have recently bought and sold shares of CNQ. FTB Advisors Inc. grew its holdings in Canadian Natural Resources Limited by 1.3% during the 2nd quarter. FTB Advisors Inc. now owns 3,180 shares of the oil and gas producer’s stock valued at $102,000 after buying an additional 41 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Canadian Natural Resources Limited during the 2nd quarter valued at about $126,000. Acadian Asset Management LLC grew its holdings in Canadian Natural Resources Limited by 2,400.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,000 shares of the oil and gas producer’s stock valued at $163,000 after buying an additional 4,800 shares in the last quarter. Greenleaf Trust purchased a new position in Canadian Natural Resources Limited during the 2nd quarter valued at about $204,000. Finally, Private Advisor Group LLC purchased a new position in Canadian Natural Resources Limited during the 1st quarter valued at about $205,000. 58.56% of the stock is owned by institutional investors and hedge funds.

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Canadian Natural Resources Limited (NYSE:CNQ) traded down 0.39% during trading on Wednesday, hitting $32.85. 1,837,641 shares of the company traded hands. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28. The stock has a 50 day moving average price of $31.44 and a 200 day moving average price of $30.90. The company has a market capitalization of $39.92 billion, a P/E ratio of 29.54 and a beta of 1.45.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be issued a dividend of $0.2212 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, September 14th. This is a positive change from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. Canadian Natural Resources Limited’s payout ratio is presently 86.28%.

About Canadian Natural Resources Limited

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.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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