Royal Bank of Canada Reiterates “Average” Rating for Canadian Natural Resources (CNQ)

Royal Bank of Canada reissued their average rating on shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a report published on Monday. They currently have a $45.00 price objective on the oil and gas producer’s stock.

Several other equities research analysts have also weighed in on CNQ. ValuEngine upgraded Canadian Natural Resources from a sell rating to a hold rating in a report on Wednesday, January 2nd. Citigroup reduced their target price on Canadian Natural Resources from $38.00 to $29.00 and set a neutral rating for the company in a report on Friday, December 7th. TD Securities restated a buy rating on shares of Canadian Natural Resources in a report on Friday, December 7th. Zacks Investment Research lowered Canadian Natural Resources from a hold rating to a strong sell rating in a report on Thursday, January 3rd. Finally, BMO Capital Markets restated a buy rating on shares of Canadian Natural Resources in a report on Thursday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $44.43.

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

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.45. The business had revenue of $4.51 billion during 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 period in the previous year, the company earned $0.19 EPS. Equities analysts expect that Canadian Natural Resources will post 2.62 earnings per share for the current fiscal year.

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

Hedge funds have recently modified their holdings of the company. Worth Venture Partners LLC bought a new stake in shares of Canadian Natural Resources during the third quarter valued at approximately $131,000. Legacy Financial Advisors Inc. bought a new stake in shares of Canadian Natural Resources during the third quarter valued at approximately $148,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Canadian Natural Resources during the third quarter valued at approximately $153,000. Cubist Systematic Strategies LLC increased its position in shares of Canadian Natural Resources by 50.0% during the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after purchasing an additional 1,800 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Canadian Natural Resources by 19,853.3% during the third quarter. Tower Research Capital LLC TRC now owns 5,986 shares of the oil and gas producer’s stock valued at $197,000 after purchasing an additional 5,956 shares during the period. Institutional investors own 66.55% of the company’s stock.

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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