Canadian Natural Resources Limited (NYSE:CNQ) Given Average Recommendation of “Hold” by Analysts

Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $63.00.

Several brokerages have recently weighed in on CNQ. Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI upgraded Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Raymond James reiterated a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Finally, Royal Bank of Canada lifted their price target on Canadian Natural Resources from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th.

Hedge Funds Weigh In On Canadian Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC boosted its stake in Canadian Natural Resources by 4.9% in the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock valued at $300,000 after acquiring an additional 419 shares during the period. Fifth Third Bancorp boosted its stake in Canadian Natural Resources by 51.0% in the fourth quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 429 shares during the period. Assetmark Inc. boosted its stake in Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 439 shares during the period. Pitcairn Co. boosted its stake in Canadian Natural Resources by 1.3% in the third quarter. Pitcairn Co. now owns 36,390 shares of the oil and gas producer’s stock valued at $1,209,000 after acquiring an additional 475 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Canadian Natural Resources by 144.1% in the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 490 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Stock Up 2.4 %

Shares of Canadian Natural Resources stock opened at $29.40 on Monday. The business has a 50-day moving average of $30.25 and a 200-day moving average of $32.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53. The company has a market capitalization of $61.76 billion, a PE ratio of 11.42 and a beta of 1.48. Canadian Natural Resources has a 1-year low of $25.62 and a 1-year high of $41.29.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be paid a $0.4117 dividend. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.39. This represents a $1.65 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s payout ratio is presently 77.88%.

Canadian Natural Resources Company Profile

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).