Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been assigned a consensus recommendation of “Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $47.44.

A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Canadian Natural Resources Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. National Bank Financial assumed coverage on shares of Canadian Natural Resources Limited in a research note on Tuesday, June 27th. They set an “outperform” rating on the stock. Morgan Stanley raised shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research note on Wednesday, July 19th. BidaskClub raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, ValuEngine raised shares of Canadian Natural Resources Limited from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.

ILLEGAL ACTIVITY NOTICE: This story was first posted by Daily Political and is owned by of Daily Political. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/09/13/canadian-natural-resources-limited-cnq-receives-consensus-recommendation-of-buy-from-analysts.html.

Institutional investors have recently modified their holdings of the stock. NN Investment Partners Holdings N.V. grew its stake in shares of Canadian Natural Resources Limited by 72.0% in the first quarter. NN Investment Partners Holdings N.V. now owns 73,985 shares of the oil and gas producer’s stock worth $2,426,000 after purchasing an additional 30,972 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in Canadian Natural Resources Limited in the first quarter valued at $845,000. Cidel Asset Management Inc. lifted its holdings in Canadian Natural Resources Limited by 12.0% in the first quarter. Cidel Asset Management Inc. now owns 2,861,951 shares of the oil and gas producer’s stock valued at $91,032,000 after buying an additional 305,980 shares during the period. Manitou Investment Management Ltd. lifted its holdings in Canadian Natural Resources Limited by 103.0% in the first quarter. Manitou Investment Management Ltd. now owns 670,900 shares of the oil and gas producer’s stock valued at $21,927,000 after buying an additional 340,360 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Canadian Natural Resources Limited by 67.1% in the first quarter. Bank of America Corp DE now owns 4,185,146 shares of the oil and gas producer’s stock valued at $137,231,000 after buying an additional 1,681,125 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Canadian Natural Resources Limited (CNQ) opened at 32.13 on Wednesday. The company has a market capitalization of $39.04 billion, a price-to-earnings ratio of 29.26 and a beta of 1.45. Canadian Natural Resources Limited has a 12 month low of $27.52 and a 12 month high of $35.28. The firm has a 50-day moving average price of $31.18 and a 200-day moving average price of $30.82.

Canadian Natural Resources Limited announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 17th that allows the company to repurchase 27,930,000 outstanding shares. This repurchase authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.2212 dividend. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. Canadian Natural Resources Limited’s payout ratio is currently 78.43%.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

Receive News & Ratings for Canadian Natural Resources Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Natural Resources Limited and related companies with MarketBeat.com's FREE daily email newsletter.