Canadian Natural Resources (NYSE:CNQ) Upgraded at Zacks Research

by · The Markets Daily

Zacks Research upgraded shares of Canadian Natural Resources (NYSE:CNQ – Free Report) (TSE:CNQ) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks reports.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Canadian Natural Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 18th. TD Securities reissued a “buy” rating on shares of Canadian Natural Resources in a research report on Friday, August 7th. Desjardins upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Canadian Natural Resources in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of $57.00.

View Our Latest Research Report on Canadian Natural Resources

Canadian Natural Resources Stock Down 1.2%

CNQ stock opened at $47.51 on Monday. The stock has a market cap of $97.62 billion, a P/E ratio of 11.73 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $48.87 and its two-hundred day simple moving average is $46.48. Canadian Natural Resources has a 1-year low of $29.68 and a 1-year high of $52.31.

Canadian Natural Resources (NYSE:CNQ – Get Free Report) (TSE:CNQ) last announced its earnings results on Thursday, August 6th. The oil and gas producer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.15. The firm had revenue of $14.74 billion during the quarter, compared to analyst estimates of $9.40 billion. Canadian Natural Resources had a return on equity of 23.91% and a net margin of 22.78%. Analysts expect that Canadian Natural Resources will post 4.05 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 11th were given a dividend of C$0.62 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, September 11th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 44.44%.

Institutional Trading of Canadian Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont bought a new stake in Canadian Natural Resources during the 2nd quarter valued at $26,000. CX Institutional bought a new position in shares of Canadian Natural Resources in the second quarter worth $28,000. Axiom Investment Management LLC bought a new position in shares of Canadian Natural Resources in the first quarter worth $29,000. Byrne Asset Management LLC purchased a new position in shares of Canadian Natural Resources in the third quarter valued at $30,000. Finally, Continuum Advisory LLC purchased a new position in shares of Canadian Natural Resources in the second quarter valued at $43,000. Institutional investors own 74.03% of the company’s stock.

About Canadian Natural Resources

(Get Free Report)

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development, production, marketing and transportation company headquartered in Calgary, Alberta. The company produces synthetic crude oil, conventional heavy and light crude oil, natural gas liquids and natural gas.

Its operations are concentrated in Western Canada and include oil sands mining and upgrading projects in northern Alberta, conventional and heavy-oil assets, and natural gas production.

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