Canadian Natural Resources (NYSE:CNQ) Upgraded at StockNews.com

StockNews.com upgraded shares of Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) from a hold rating to a buy rating in a research note issued to investors on Monday.

A number of other research analysts have also recently issued reports on CNQ. Scotiabank reiterated a sector perform rating on shares of Canadian Natural Resources in a research note on Tuesday, June 11th. Wolfe Research started coverage on Canadian Natural Resources in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Raymond James upgraded Canadian Natural Resources to a hold rating in a research note on Tuesday, May 28th. Finally, Desjardins cut Canadian Natural Resources from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of Hold and a consensus price target of $48.13.

Canadian Natural Resources Stock Up 2.6 %

Shares of NYSE:CNQ opened at $34.41 on Monday. The stock has a fifty day simple moving average of $35.23 and a two-hundred day simple moving average of $35.77. The stock has a market capitalization of $73.21 billion, a price-to-earnings ratio of 13.71 and a beta of 1.52. Canadian Natural Resources has a 12-month low of $29.45 and a 12-month high of $41.29. The company has a current ratio of 0.88, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Canadian Natural Resources had a return on equity of 21.98% and a net margin of 18.05%. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, research analysts anticipate that Canadian Natural Resources will post 2.87 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.384 dividend. This represents a $1.54 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s payout ratio is currently 60.96%.

Institutional Trading of Canadian Natural Resources

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Canadian Natural Resources during the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC grew its holdings in Canadian Natural Resources by 117.8% during 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 purchasing an additional 245 shares during the period. YHB Investment Advisors Inc. bought a new stake in Canadian Natural Resources during the first quarter valued at about $37,000. Principal Securities Inc. bought a new stake in Canadian Natural Resources during the fourth quarter valued at about $35,000. Finally, LifeSteps Financial Inc. bought a new stake in Canadian Natural Resources during the first quarter valued at about $46,000. Institutional investors own 74.03% of the company’s stock.

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).