Canadian Natural Resources (CNQ) Given “Buy” Rating at BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research report sent to investors on Monday. BMO Capital Markets currently has a $45.00 price objective on the oil and gas producer’s stock.

Several other research analysts have also weighed in on the company. ValuEngine lowered Canadian Natural Resources from a sell rating to a strong sell rating in a research report on Tuesday, October 2nd. Canaccord Genuity reaffirmed a buy rating and set a $50.00 price target on shares of Canadian Natural Resources in a research report on Tuesday, November 20th. CIBC initiated coverage on Canadian Natural Resources in a research report on Friday, October 5th. They set a sector outperform rating on the stock. Macquarie raised Canadian Natural Resources from a neutral rating to an outperform rating in a research report on Tuesday, December 4th. Finally, GMP Securities reaffirmed a buy rating on shares of Canadian Natural Resources in a research report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Canadian Natural Resources currently has a consensus rating of Buy and an average price target of $44.43.

Shares of Canadian Natural Resources stock opened at $26.65 on Monday. The company has a market capitalization of $32.05 billion, a P/E ratio of 32.10, a PEG ratio of 3.87 and a beta of 1.17. Canadian Natural Resources has a 52-week low of $21.85 and a 52-week high of $38.20. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.58.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.45. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $0.19 EPS. Research analysts forecast that Canadian Natural Resources will post 2.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Monday, December 10th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, December 7th. Canadian Natural Resources’s payout ratio is presently 121.69%.

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Canadian Natural Resources by 7.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,537,437 shares of the oil and gas producer’s stock worth $148,193,000 after acquiring an additional 327,823 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Canadian Natural Resources during the 3rd quarter worth approximately $310,000. Capital International Investors increased its holdings in shares of Canadian Natural Resources by 201.3% during the 3rd quarter. Capital International Investors now owns 10,484,015 shares of the oil and gas producer’s stock worth $342,506,000 after acquiring an additional 7,003,917 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Canadian Natural Resources by 50.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Canadian Natural Resources by 24.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,366 shares of the oil and gas producer’s stock worth $665,000 after acquiring an additional 4,001 shares during the last quarter. 66.55% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Natural Resources

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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