Credit Suisse Group set a $48.00 price target on Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) in a research note published on Tuesday, TipRanks reports. The firm currently has a buy rating on the oil and gas producer’s stock.
A number of other research firms have also commented on CNQ. Goldman Sachs Group restated a neutral rating on shares of Canadian Natural Resources in a research report on Monday, July 22nd. Canaccord Genuity reaffirmed a buy rating and set a $53.00 target price on shares of Canadian Natural Resources in a report on Tuesday, July 9th. Wells Fargo & Co cut shares of Canadian Natural Resources from a market perform rating to an underperform rating in a research note on Friday, September 6th. CIBC reissued a buy rating and issued a $48.00 price target on shares of Canadian Natural Resources in a report on Sunday, August 4th. Finally, Zacks Investment Research lowered shares of Canadian Natural Resources from a buy rating to a hold rating and set a $28.00 price target for the company. in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Canadian Natural Resources presently has a consensus rating of Buy and a consensus target price of $41.88.
NYSE CNQ traded down $0.26 during trading hours on Tuesday, hitting $25.42. The company had a trading volume of 3,354,320 shares, compared to its average volume of 2,843,883. Canadian Natural Resources has a 52 week low of $21.85 and a 52 week high of $33.86. The firm has a 50 day simple moving average of $23.97 and a 200 day simple moving average of $26.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.44 and a current ratio of 0.59. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.46 and a beta of 1.16.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.284 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.14 annualized dividend and a yield of 4.47%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28. Canadian Natural Resources’s payout ratio is 51.63%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Icon Wealth Partners LLC purchased a new position in shares of Canadian Natural Resources during the 1st quarter valued at about $28,000. Zions Bancorporation N.A. bought a new position in Canadian Natural Resources during the first quarter valued at approximately $28,000. Bremer Bank National Association purchased a new position in shares of Canadian Natural Resources during the first quarter worth approximately $34,000. Huntington National Bank raised its stake in shares of Canadian Natural Resources by 348.8% during the second quarter. Huntington National Bank now owns 1,333 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Canadian Natural Resources in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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