Canadian Natural Resources Ltd. (CNQ) Sets New 12-Month High at $32.61
Shares of Canadian Natural Resources Ltd. (NYSE:CNQ) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.61 and last traded at $32.47, with a volume of 425,552 shares. The stock had previously closed at $32.08.
A number of analysts recently issued reports on the company. Royal Bank Of Canada raised their price objective on Canadian Natural Resources from $43.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 14th. National Bank Financial upgraded Canadian Natural Resources from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 5th. Macquarie upgraded Canadian Natural Resources from a “neutral” rating to an “outperform” rating in a report on Friday, August 5th. TD Securities restated a “hold” rating and set a $38.00 target price on shares of Canadian Natural Resources in a report on Friday, June 17th. Finally, Raymond James Financial Inc. restated an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Canadian Natural Resources currently has an average rating of “Buy” and a consensus price target of $40.07.
The stock’s market cap is $35.59 billion. The company has a 50-day moving average of $30.99 and a 200-day moving average of $27.87.
Canadian Natural Resources (NYSE:CNQ) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $1.80 billion. On average, equities research analysts expect that Canadian Natural Resources Ltd. will post ($0.62) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 16th will be paid a dividend of $0.1764 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.71 annualized dividend and a yield of 2.18%.
An institutional investor recently raised its position in Canadian Natural Resources stock. Bridgewater Associates LP boosted its stake in Canadian Natural Resources Ltd. (NYSE:CNQ) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 340,100 shares of the company’s stock after buying an additional 46,800 shares during the period. Bridgewater Associates LP’s holdings in Canadian Natural Resources were worth $7,401,000 as of its most recent SEC filing.
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.
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