Canadian Natural Resources Limited (NYSE:CNQ) Receives $94.00 Consensus Target Price from Analysts

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) have been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $94.00.

Separately, Desjardins cut Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

Institutional Investors Weigh In On Canadian Natural Resources

A number of hedge funds have recently made changes to their positions in CNQ. Central Bank & Trust Co. purchased a new stake in shares of Canadian Natural Resources during the 4th quarter worth $26,000. GAMMA Investing LLC purchased a new stake in Canadian Natural Resources in the fourth quarter valued at about $27,000. Principal Securities Inc. purchased a new stake in Canadian Natural Resources in the fourth quarter valued at about $35,000. Bruce G. Allen Investments LLC raised its stake in Canadian Natural Resources by 117.8% in the first quarter. Bruce G. Allen Investments LLC now owns 453 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 245 shares during the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in Canadian Natural Resources in the first quarter valued at about $37,000. 74.03% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at $75.41 on Friday. The stock’s fifty day moving average is $76.81 and its two-hundred day moving average is $69.15. The company has a market capitalization of $80.85 billion, a PE ratio of 15.02 and a beta of 1.52. The company has a quick ratio of 0.61, a current ratio of 0.88 and a debt-to-equity ratio of 0.23. Canadian Natural Resources has a 52 week low of $52.66 and a 52 week high of $82.58.

Canadian Natural Resources’s stock is set to split on Tuesday, June 11th. The 2-1 split was announced on Tuesday, June 11th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 11th.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $1.72 EPS for the quarter, beating the consensus estimate of $1.59 by $0.13. The company had revenue of $7.02 billion for the quarter, compared to the consensus estimate of $6.73 billion. Canadian Natural Resources had a return on equity of 20.58% and a net margin of 18.21%. As a group, analysts expect that Canadian Natural Resources will post 5.75 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a dividend of $0.777 per share. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.77. This represents a $3.11 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, June 17th. Canadian Natural Resources’s dividend payout ratio is 61.55%.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 (thermal oil), and synthetic crude oil (SCO).