Canadian Natural Resources Limited (NYSE:CNQ) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Canadian Natural Resources Limited (NYSE:CNQ - Get Free Report) TSE: CNQ have received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.00.

Several research analysts have commented on CNQ shares. Raymond James raised shares of Canadian Natural Resources from a "market perform" rating to an "outperform" rating in a report on Wednesday. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to a "sector outperform" rating in a research report on Wednesday, March 19th. Evercore ISI raised Canadian Natural Resources from an "in-line" rating to an "outperform" rating in a report on Friday, March 7th. Tudor Pickering lowered Canadian Natural Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 target price on shares of Canadian Natural Resources in a research note on Thursday, March 27th.

Canadian Natural Resources Price Performance

Shares of CNQ traded up $0.17 during midday trading on Friday, hitting $25.31. 3,875,000 shares of the company traded hands, compared to its average volume of 7,391,315. Canadian Natural Resources has a one year low of $24.65 and a one year high of $41.29. The firm has a market cap of $53.16 billion, a P/E ratio of 9.81 and a beta of 1.10. 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 stock has a 50-day moving average of $29.55 and a 200-day moving average of $31.90.

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Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were given a dividend of $0.4117 per share. This is a boost 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 6.51%. The ex-dividend date of this dividend was Friday, March 21st. Canadian Natural Resources's dividend payout ratio (DPR) is presently 77.88%.

Institutional Investors Weigh In On Canadian Natural Resources

Institutional investors have recently made changes to their positions in the business. Principal Securities Inc. boosted its position in Canadian Natural Resources by 595.2% during the fourth quarter. Principal Securities Inc. now owns 6,987 shares of the oil and gas producer's stock valued at $216,000 after buying an additional 5,982 shares during the period. SG Americas Securities LLC boosted its holdings in Canadian Natural Resources by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 296,424 shares of the oil and gas producer's stock valued at $9,151,000 after acquiring an additional 17,694 shares during the period. CIBC Asset Management Inc grew its position in Canadian Natural Resources by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 24,109,432 shares of the oil and gas producer's stock worth $746,025,000 after acquiring an additional 1,270,945 shares during the last quarter. FMR LLC increased its stake in Canadian Natural Resources by 8.7% in the 4th quarter. FMR LLC now owns 92,550,104 shares of the oil and gas producer's stock worth $2,857,337,000 after purchasing an additional 7,372,718 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Canadian Natural Resources by 87.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,437,771 shares of the oil and gas producer's stock valued at $136,994,000 after purchasing an additional 2,064,492 shares during the last quarter. Hedge funds and other institutional investors own 74.03% of the company's stock.

About Canadian Natural Resources

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).