Canadian Natural Resources Ltd (NYSE:CNQ) (TSE:CNQ)’s stock price rose 13.1% during mid-day trading on Monday . The stock traded as high as $28.70 and last traded at $28.66, approximately 6,894,548 shares traded hands during mid-day trading. An increase of 141% from the average daily volume of 2,860,651 shares. The stock had previously closed at $25.34.
CNQ has been the subject of several research reports. Canaccord Genuity reissued a “buy” rating and issued a $53.00 target price on shares of Canadian Natural Resources in a research report on Tuesday, July 9th. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Canadian Natural Resources in a research report on Monday, July 22nd. CIBC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Canadian Natural Resources in a research report on Sunday, August 4th. Wells Fargo & Co lowered Canadian Natural Resources from a “market perform” rating to an “underperform” rating in a research report on Friday, September 6th. Finally, Credit Suisse Group set a $48.00 price objective on Canadian Natural Resources and gave the company a “buy” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Canadian Natural Resources currently has an average rating of “Buy” and a consensus price target of $41.88.
The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. The company has a market cap of $30.13 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. The stock has a 50-day moving average of $24.05 and a two-hundred day moving average of $26.79.
Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.25. Canadian Natural Resources had a return on equity of 8.62% and a net margin of 22.22%. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the company earned $1.04 EPS. Research analysts predict that Canadian Natural Resources Ltd will post 2.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.284 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Thursday, September 12th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. Canadian Natural Resources’s dividend payout ratio (DPR) is 52.56%.
A number of hedge funds have recently bought and sold shares of the stock. First Republic Investment Management Inc. bought a new stake in shares of Canadian Natural Resources in the 1st quarter worth $268,000. Cornerstone Advisors Inc. increased its holdings in shares of Canadian Natural Resources by 245.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,806 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 1,283 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of Canadian Natural Resources in the 1st quarter worth $232,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Canadian Natural Resources by 3.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 44,136 shares of the oil and gas producer’s stock worth $1,213,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Canadian Natural Resources by 381.7% in the 1st quarter. Raymond James & Associates now owns 389,089 shares of the oil and gas producer’s stock worth $10,694,000 after purchasing an additional 308,323 shares in the last quarter. 65.10% of the stock is owned by institutional investors.
Canadian Natural Resources Company Profile (NYSE:CNQ)
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. 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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