Canadian Natural Resource (CNQ) Given Buy Rating at Raymond James

Raymond James reiterated their buy rating on shares of Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) in a research note released on Friday, November 2nd.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed a buy rating on shares of Canadian Natural Resource in a research note on Friday, November 2nd. Zacks Investment Research downgraded shares of Canadian Natural Resource from a buy rating to a hold rating in a research note on Tuesday, August 28th. Macquarie downgraded shares of Canadian Natural Resource from an outperform rating to a neutral rating in a research note on Tuesday, October 9th. Morgan Stanley dropped their target price on shares of Canadian Natural Resource from $64.00 to $60.00 and set an overweight rating for the company in a research note on Friday, October 12th. Finally, CIBC initiated coverage on shares of Canadian Natural Resource in a research note on Friday, October 5th. They issued a sector outperform rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Canadian Natural Resource currently has an average rating of Hold and a consensus target price of $47.60.

CNQ stock traded down $0.84 during trading on Friday, hitting $28.16. 5,641,045 shares of the stock traded hands, compared to its average volume of 3,879,876. Canadian Natural Resource has a one year low of $26.90 and a one year high of $38.20. The company has a market capitalization of $35.43 billion, a P/E ratio of 33.93, a P/E/G ratio of 1.78 and a beta of 1.37. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, November 1st. The oil and gas producer reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.45. Canadian Natural Resource had a net margin of 15.94% and a return on equity of 12.33%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, research analysts expect that Canadian Natural Resource will post 2.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Monday, December 10th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, December 7th. Canadian Natural Resource’s dividend payout ratio is 124.10%.

Several large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of Canadian Natural Resource by 0.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 24,436,001 shares of the oil and gas producer’s stock worth $797,773,000 after buying an additional 125,800 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Canadian Natural Resource by 190.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 298,741 shares of the oil and gas producer’s stock worth $10,023,000 after buying an additional 195,800 shares during the period. BlackRock Inc. grew its position in shares of Canadian Natural Resource by 20.3% during the 3rd quarter. BlackRock Inc. now owns 805,697 shares of the oil and gas producer’s stock worth $26,315,000 after buying an additional 136,063 shares during the period. Capital Growth Management LP acquired a new stake in shares of Canadian Natural Resource during the 3rd quarter worth approximately $3,266,000. Finally, Hillsdale Investment Management Inc. grew its position in shares of Canadian Natural Resource by 194.7% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 231,010 shares of the oil and gas producer’s stock worth $7,549,000 after buying an additional 152,610 shares during the period. Institutional investors own 67.01% of the company’s stock.

Canadian Natural Resource 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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Analyst Recommendations for Canadian Natural Resource (NYSE:CNQ)

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