Canadian Natural Resources Ltd. (CNQ) Shares Gap Up to $32.40
Shares of Canadian Natural Resources Ltd. (NYSE:CNQ) gapped up before the market opened on Thursday . The stock had previously closed at $32.35, but opened at $32.40. Canadian Natural Resources shares last traded at $32.72, with a volume of 1,256,930 shares traded.
Several analysts have issued reports on the stock. Scotiabank reaffirmed an “outperform” rating and set a $44.00 price target on shares of Canadian Natural Resources in a research report on Wednesday, August 10th. National Bank Financial raised shares of Canadian Natural Resources from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 5th. Royal Bank Of Canada raised shares of Canadian Natural Resources from an “outperform” rating to a “top pick” rating in a research report on Wednesday, June 15th. Citigroup Inc. reissued a “buy” rating and issued a $34.00 price objective (up from $28.63) on shares of Canadian Natural Resources in a research report on Friday, June 17th. Finally, Zacks Investment Research raised shares of Canadian Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.07.
The stock has a 50 day moving average price of $31.15 and a 200 day moving average price of $27.94. The stock’s market cap is $36.21 billion.
Canadian Natural Resources (NYSE:CNQ) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Analysts predict that Canadian Natural Resources Ltd. will post ($0.61) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 16th will be issued a $0.1764 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, September 14th.
An institutional investor recently raised its position in Canadian Natural Resources stock. Bridgewater Associates LP increased its position in Canadian Natural Resources Ltd. (NYSE:CNQ) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent 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.
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