Canadian Natural Resources (NYSE:CNQ) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages also recently weighed in on CNQ. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Canadian Natural Resources in a research report on Friday, October 9th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Natural Resources in a research report on Monday, October 19th. Zacks Research raised shares of Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Finally, TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average target price of $57.00.

Canadian Natural Resources Price Performance

CNQ opened at $48.49 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.75 and a current ratio of 1.00. The stock has a market capitalization of $99.23 billion, a P/E ratio of 9.94 and a beta of 0.45. The company’s 50-day simple moving average is $50.82 and its two-hundred day simple moving average is $46.27. Canadian Natural Resources has a 52-week low of $30.13 and a 52-week high of $56.27.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings results on Thursday, November 5th. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.13. Canadian Natural Resources had a net margin of 25.24% and a return on equity of 26.79%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.79 billion. As a group, analysts predict that Canadian Natural Resources will post 4.10 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th will be given a C$0.62 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $2.50 dividend on an annualized basis and a yield of 5.2%. Canadian Natural Resources’s dividend payout ratio is presently 44.44%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Legacy Financial Advisors Inc. lifted its position in shares of Canadian Natural Resources by 3.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 7,447 shares of the oil and gas producer’s stock worth $294,000 after buying an additional 219 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Canadian Natural Resources by 2.5% in the 2nd quarter. Allworth Financial LP now owns 10,854 shares of the oil and gas producer’s stock valued at $429,000 after buying an additional 262 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Canadian Natural Resources by 2.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 15,084 shares of the oil and gas producer’s stock valued at $782,000 after buying an additional 291 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Canadian Natural Resources by 15.4% in the 2nd quarter. CoreCap Advisors LLC now owns 2,202 shares of the oil and gas producer’s stock valued at $87,000 after buying an additional 294 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Canadian Natural Resources by 15.2% in the 3rd quarter. Fifth Third Bancorp now owns 2,256 shares of the oil and gas producer’s stock valued at $106,000 after buying an additional 298 shares during the last quarter. Institutional investors own 74.03% of the company’s stock.

Canadian Natural Resources News Summary

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Adjusted earnings were C$1.18 per share, above the C$1.05 consensus and up from C$0.62 a year earlier. Net profit reportedly rose to C$3 billion from C$600 million, supported by higher energy prices and production. CNQ beats Q3 earnings estimates
• Positive Sentiment: CNQ reached its net-debt target ahead of schedule and plans to accelerate share buybacks, adding to its dividend distributions. That may support shareholder returns. Earnings call highlights: buybacks and production outlook
• Positive Sentiment: The company declared a quarterly dividend of C$0.625 per share, payable January 5, 2027. Improved Horizon reliability and strong thermal production also underpin a more favorable fourth-quarter outlook. Quarterly dividend announcement Production outlook and reliability update
• Neutral Sentiment: Quarterly revenue of C$8.74 billion narrowly missed analysts’ C$8.79 billion estimate, despite the earnings beat. That modest shortfall may have tempered the market response. CNQ quarterly earnings report

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent energy company engaged in the exploration, development, production and marketing of crude oil, natural gas and natural gas liquids. Its operations span several resource types and production methods, including oil sands mining and upgrading, thermal in situ projects, conventional oil and gas production, and offshore assets.

The company’s principal operating areas are in Western Canada, the United Kingdom’s North Sea and offshore Africa.