Macquarie downgraded shares of Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) from an outperform rating to a neutral rating in a research report report published on Tuesday, MarketBeat reports.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Canadian Natural Resource from a hold rating to a sell rating in a report on Thursday, August 2nd. CIBC initiated coverage on shares of Canadian Natural Resource in a report on Friday, October 5th. They issued a sector outperform rating on the stock. Evercore ISI initiated coverage on shares of Canadian Natural Resource in a research note on Wednesday, June 27th. They issued an inline rating on the stock. Zacks Investment Research raised shares of Canadian Natural Resource from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Tuesday, July 3rd. Finally, Royal Bank of Canada downgraded shares of Canadian Natural Resource from a top pick rating to an outperform rating and set a $38.40 price target on the stock. in a research note on Thursday, September 20th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Canadian Natural Resource has a consensus rating of Hold and an average target price of $49.48.

NYSE:CNQ opened at $29.04 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $39.79 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.35 and a beta of 1.23. Canadian Natural Resource has a 1-year low of $28.76 and a 1-year high of $38.20.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last posted its earnings results on Thursday, August 2nd. The oil and gas producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.50. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.28 billion. Canadian Natural Resource had a net margin of 12.34% and a return on equity of 8.35%. During the same period in the previous year, the business posted $0.29 EPS. Equities analysts expect that Canadian Natural Resource will post 2.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were paid a $0.257 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, September 13th. Canadian Natural Resource’s dividend payout ratio (DPR) is 124.10%.

Institutional investors have recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Canadian Natural Resource in the 3rd quarter valued at approximately $153,000. Ostrum Asset Management purchased a new stake in shares of Canadian Natural Resource in the 1st quarter valued at approximately $168,000. Cubist Systematic Strategies LLC raised its stake in shares of Canadian Natural Resource by 50.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after acquiring an additional 1,800 shares during the period. Worth Venture Partners LLC purchased a new stake in shares of Canadian Natural Resource in the 1st quarter valued at approximately $225,000. Finally, Signaturefd LLC raised its stake in shares of Canadian Natural Resource by 49.7% in the 2nd quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock valued at $252,000 after acquiring an additional 2,323 shares during the period. 66.89% of the stock is currently owned by institutional investors and hedge funds.

About Canadian Natural Resource

Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Analyst Recommendations for Canadian Natural Resource (NYSE:CNQ)

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