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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$101.44.

A number of brokerages have commented on CNQ. Desjardins downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating and increased their price objective for the company from C$104.00 to C$110.00 in a research report on Tuesday, April 23rd. UBS Group lifted their price target on Canadian Natural Resources from C$113.00 to C$124.00 in a report on Tuesday, April 9th. CIBC increased their price objective on Canadian Natural Resources from C$105.00 to C$115.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Wolfe Research upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Finally, BMO Capital Markets increased their price target on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research note on Thursday, March 28th.

Canadian Natural Resources Trading Down 0.5 %

CNQ opened at C$47.59 on Friday. The business has a fifty day moving average price of C$67.84 and a 200 day moving average price of C$86.16. The company has a debt-to-equity ratio of 31.83, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a 12 month low of C$38.90 and a 12 month high of C$56.49. The stock has a market capitalization of C$50.92 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.53 and a beta of 1.97.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, May 2nd. The company reported C$1.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.40 by C($0.03). The firm had revenue of C$8.24 billion for the quarter, compared to analysts’ expectations of C$8.17 billion. Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%. Sell-side analysts expect that Canadian Natural Resources will post 6.8572356 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 8.83%. The ex-dividend date was Monday, June 17th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 58.65%.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$48.43, for a total value of C$181,612.50. In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of Canadian Natural Resources stock in a transaction dated Monday, May 27th. The shares were sold at an average price of C$104.80, for a total transaction of C$236,012.98. In the last ninety days, insiders sold 6,003 shares of company stock valued at $417,729. 2.21% of the stock is owned by company insiders.

Canadian Natural Resources Company Profile

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).