Canadian Natural Resource (CNQ) Now Covered by CIBC

CIBC assumed coverage on shares of Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) in a research report released on Friday morning, Marketbeat reports. The brokerage issued a sector outperform rating on the oil and gas producer’s stock.

Several other equities analysts have also issued reports on CNQ. Evercore ISI initiated coverage on shares of Canadian Natural Resource in a report on Wednesday, June 27th. They set an inline rating for the company. Zacks Investment Research upgraded shares of Canadian Natural Resource from a hold rating to a buy rating and set a $40.00 target price for the company in a report on Tuesday, July 3rd. ValuEngine lowered shares of Canadian Natural Resource from a hold rating to a sell rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada lowered shares of Canadian Natural Resource from a top pick rating to an outperform rating and set a $38.40 target price for the company. in a report on Thursday, September 20th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $49.48.

Canadian Natural Resource stock opened at $31.66 on Friday. Canadian Natural Resource has a fifty-two week low of $29.20 and a fifty-two week high of $38.20. The company has a market cap of $39.79 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.35 and a beta of 1.23. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Canadian Natural Resource (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 2nd. The oil and gas producer reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.50. Canadian Natural Resource had a net margin of 12.34% and a return on equity of 8.35%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the business earned $0.29 earnings per share. As a group, analysts forecast that Canadian Natural Resource will post 2.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a dividend of $0.257 per share. The ex-dividend date was Thursday, September 13th. This represents a $1.03 annualized dividend and a dividend yield of 3.25%. Canadian Natural Resource’s payout ratio is 124.10%.

Several hedge funds have recently added to or reduced their stakes in CNQ. PNC Financial Services Group Inc. raised its holdings in Canadian Natural Resource by 1.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 89,181 shares of the oil and gas producer’s stock worth $3,217,000 after acquiring an additional 1,506 shares during the last quarter. Van ECK Associates Corp raised its holdings in Canadian Natural Resource by 14.0% in the 1st quarter. Van ECK Associates Corp now owns 13,548 shares of the oil and gas producer’s stock worth $426,000 after acquiring an additional 1,666 shares during the last quarter. Guggenheim Capital LLC raised its holdings in Canadian Natural Resource by 2.8% in the 1st quarter. Guggenheim Capital LLC now owns 62,443 shares of the oil and gas producer’s stock worth $1,964,000 after acquiring an additional 1,703 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in Canadian Natural Resource by 50.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock worth $195,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Morningstar Investment Services LLC raised its holdings in Canadian Natural Resource by 18.3% in the 2nd quarter. Morningstar Investment Services LLC now owns 11,821 shares of the oil and gas producer’s stock worth $426,000 after acquiring an additional 1,828 shares during the last quarter. Hedge funds and other institutional investors own 66.89% of the company’s stock.

About Canadian Natural Resource

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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Analyst Recommendations for Canadian Natural Resource (NYSE:CNQ)

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