CNQ has been the topic of a number of other reports. Zacks Investment Research cut Canadian Natural Resources from a buy rating to a hold rating in a report on Tuesday, August 28th. Royal Bank of Canada cut Canadian Natural Resources from a top pick rating to an outperform rating and set a $38.40 target price on the stock. in a report on Thursday, September 20th. They noted that the move was a valuation call. ValuEngine cut Canadian Natural Resources from a sell rating to a strong sell rating in a report on Tuesday, October 2nd. CIBC assumed coverage on Canadian Natural Resources in a report on Friday, October 5th. They issued a sector outperform rating on the stock. Finally, Macquarie cut Canadian Natural Resources from an outperform rating to a neutral rating in a report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $43.23.
Shares of Canadian Natural Resources stock traded up $0.79 on Friday, reaching $26.93. 5,783,352 shares of the company’s stock were exchanged, compared to its average volume of 3,760,202. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.68 and a beta of 1.34. Canadian Natural Resources has a 52 week low of $24.02 and a 52 week high of $38.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.69 and a current ratio of 0.92.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.45. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Canadian Natural Resources had a return on equity of 12.33% and a net margin of 15.94%. During the same period in the prior year, the business earned $0.19 EPS. On average, equities research analysts forecast that Canadian Natural Resources will post 2.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, December 7th. Canadian Natural Resources’s dividend payout ratio is currently 124.10%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Canadian Natural Resources by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 33,721,656 shares of the oil and gas producer’s stock valued at $1,101,349,000 after buying an additional 1,031,712 shares during the last quarter. NorthCoast Asset Management LLC purchased a new stake in Canadian Natural Resources in the 3rd quarter valued at $4,640,000. Nordea Investment Management AB purchased a new stake in Canadian Natural Resources in the 3rd quarter valued at $2,198,000. Neuberger Berman Group LLC raised its position in Canadian Natural Resources by 83.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 454,646 shares of the oil and gas producer’s stock valued at $14,856,000 after buying an additional 207,179 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Canadian Natural Resources by 26.1% in the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 5,658,538 shares of the oil and gas producer’s stock valued at $238,790,000 after buying an additional 1,171,000 shares during the last quarter. Institutional investors own 66.30% of the company’s stock.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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