Canadian Natural Resources Limited (NYSE:CNQ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $94.00.

CNQ has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Canadian Natural Resources from $101.00 to $102.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Desjardins downgraded Canadian Natural Resources from a “buy” rating to a “hold” rating in a research report on Tuesday.

Canadian Natural Resources Stock Performance

NYSE:CNQ opened at $76.71 on Tuesday. The stock has a 50-day moving average price of $72.85 and a 200 day moving average price of $67.44. The stock has a market capitalization of $82.24 billion, a P/E ratio of 13.85 and a beta of 1.54. Canadian Natural Resources has a 12-month low of $52.66 and a 12-month high of $82.58. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 0.25.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.13. Canadian Natural Resources had a net margin of 20.15% and a return on equity of 21.74%. The business had revenue of $7.02 billion during the quarter, compared to analyst estimates of $6.73 billion. Equities research analysts forecast that Canadian Natural Resources will post 5.7 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.774 per share. This represents a $3.10 annualized dividend and a dividend yield of 4.04%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, March 14th. Canadian Natural Resources’s dividend payout ratio is currently 53.25%.

Institutional Investors Weigh In On Canadian Natural Resources

Large investors have recently added to or reduced their stakes in the stock. Central Bank & Trust Co. purchased a new position in shares of Canadian Natural Resources in the 4th quarter worth approximately $26,000. GAMMA Investing LLC bought a new stake in Canadian Natural Resources in the fourth quarter worth $27,000. Principal Securities Inc. purchased a new position in Canadian Natural Resources during the fourth quarter worth $35,000. Bruce G. Allen Investments LLC increased its position in Canadian Natural Resources by 117.8% during the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in shares of Canadian Natural Resources by 39.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 609 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 173 shares during the period. 74.03% of the stock is owned by institutional investors.

About Canadian Natural Resources

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).