Canadian Natural Resources Ltd. (CNQ) Sets New 52-Week High at $32.61
Shares of Canadian Natural Resources Ltd. (NYSE:CNQ) reached a new 52-week high during trading on Monday . The company traded as high as $32.61 and last traded at $32.47, with a volume of 425,552 shares traded. The stock had previously closed at $32.08.
A number of analysts have recently commented on CNQ shares. Credit Suisse Group AG reissued a “buy” rating on shares of Canadian Natural Resources in a research note on Thursday, June 16th. Citigroup Inc. reaffirmed a “buy” rating and set a $34.00 target price (up from $28.63) on shares of Canadian Natural Resources in a research report on Friday, June 17th. Nomura reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research report on Monday, June 20th. Scotiabank reaffirmed an “outperform” rating and set a $42.00 target price (up from $35.00) on shares of Canadian Natural Resources in a research report on Friday, June 17th. Finally, JPMorgan Chase & Co. boosted their target price on Canadian Natural Resources from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $40.07.
The stock’s market cap is $35.79 billion. The company’s 50-day moving average price is $30.82 and its 200 day moving average price is $27.58.
Canadian Natural Resources (NYSE:CNQ) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The company earned $2.55 billion during the quarter, compared to the consensus estimate of $1.80 billion. Analysts forecast that Canadian Natural Resources Ltd. will post ($0.60) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 16th will be given a $0.1764 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.71 annualized dividend and a dividend yield of 2.20%.
A number of hedge funds have modified their holdings of CNQ. Dimensional Fund Advisors LP increased its stake in shares of Canadian Natural Resources by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,333,685 shares of the company’s stock valued at $116,434,000 after buying an additional 151,890 shares during the last quarter. Bridgewater Associates LP increased its stake in shares of Canadian Natural Resources by 16.0% in the fourth quarter. Bridgewater Associates LP now owns 340,100 shares of the company’s stock valued at $7,401,000 after buying an additional 46,800 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Canadian Natural Resources by 41.2% in the fourth quarter. US Bancorp DE now owns 250,855 shares of the company’s stock valued at $5,477,000 after buying an additional 73,224 shares during the last quarter.
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). Its exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.