Zacks Research upgraded shares of Canadian Natural Resources (NYSE:CNQ – Free Report) (TSE:CNQ) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks reports.
Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 18th. Desjardins raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 16th. Scotiabank reissued a “sector perform” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Finally, TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.
Get Our Latest Analysis on Canadian Natural Resources
Canadian Natural Resources Stock Down 0.3%
Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.15. The firm had revenue of $14.74 billion for the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a net margin of 22.78% and a return on equity of 23.91%. As a group, sell-side analysts predict that Canadian Natural Resources will post 4.05 EPS for the current fiscal year.
Canadian Natural Resources Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were issued a C$0.62 dividend. This represents a $2.50 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, September 11th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 44.44%.
Institutional Trading of Canadian Natural Resources
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Canadian Natural Resources by 10.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,457,500 shares of the oil and gas producer’s stock valued at $1,826,578,000 after purchasing an additional 3,397,500 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canadian Natural Resources during the first quarter valued at approximately $1,411,619,000. TD Waterhouse Canada Inc. raised its holdings in Canadian Natural Resources by 0.6% in the second quarter. TD Waterhouse Canada Inc. now owns 16,236,328 shares of the oil and gas producer’s stock worth $634,507,000 after purchasing an additional 88,990 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Canadian Natural Resources by 1.9% during the 4th quarter. JPMorgan Chase & Co. now owns 14,308,539 shares of the oil and gas producer’s stock valued at $484,344,000 after acquiring an additional 260,746 shares during the period. Finally, Amundi boosted its position in shares of Canadian Natural Resources by 3.1% in the 2nd quarter. Amundi now owns 8,238,632 shares of the oil and gas producer’s stock worth $325,426,000 after purchasing an additional 244,205 shares in the last quarter. Hedge funds and other institutional investors own 74.03% of the company’s stock.
About Canadian Natural Resources
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development, production, marketing and transportation company headquartered in Calgary, Alberta. The company produces synthetic crude oil, conventional heavy and light crude oil, natural gas liquids and natural gas.
Its operations are concentrated in Western Canada and include oil sands mining and upgrading projects in northern Alberta, conventional and heavy-oil assets, and natural gas production.
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