Canadian Natural Resources (NYSE:CNQ) Given New $37.00 Price Target at UBS Group

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its target price upped by UBS Group from $28.00 to $37.00 in a research report sent to investors on Monday morning, Stock Target Advisor reports. The firm currently has a buy rating on the oil and gas producer’s stock.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Co upped their price target on Canadian Natural Resources from $16.00 to $17.00 and gave the company an underweight rating in a report on Friday, May 29th. Goldman Sachs Group raised Canadian Natural Resources from a neutral rating to a buy rating and upped their price target for the company from $15.00 to $21.00 in a report on Thursday, May 14th. ValuEngine raised Canadian Natural Resources from a sell rating to a hold rating in a report on Friday, May 1st. Royal Bank of Canada increased their price objective on Canadian Natural Resources from $24.00 to $27.00 and gave the company an outperform rating in a report on Friday, May 8th. Finally, Raymond James reissued a buy rating on shares of Canadian Natural Resources in a report on Friday, March 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Canadian Natural Resources has a consensus rating of Buy and a consensus price target of $38.62.

CNQ stock opened at $17.70 on Monday. The company’s 50 day moving average price is $18.29 and its 200 day moving average price is $21.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.51 and a current ratio of 0.66. Canadian Natural Resources has a fifty-two week low of $6.71 and a fifty-two week high of $32.79. The firm has a market capitalization of $20.31 billion, a price-to-earnings ratio of 11.78 and a beta of 1.72.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, May 7th. The oil and gas producer reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.29). The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Canadian Natural Resources had a return on equity of 6.70% and a net margin of 13.51%. During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities analysts forecast that Canadian Natural Resources will post -1.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were given a dividend of $0.3003 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date of this dividend was Thursday, June 11th. Canadian Natural Resources’s dividend payout ratio is presently 54.19%.

A number of institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors increased its position in Canadian Natural Resources by 49.3% during the 1st quarter. Capital Research Global Investors now owns 134,659,887 shares of the oil and gas producer’s stock worth $1,841,896,000 after purchasing an additional 44,444,284 shares in the last quarter. Capital World Investors boosted its stake in Canadian Natural Resources by 6.2% in the 4th quarter. Capital World Investors now owns 41,204,915 shares of the oil and gas producer’s stock worth $1,332,725,000 after buying an additional 2,394,420 shares during the last quarter. Capital International Investors boosted its stake in Canadian Natural Resources by 15.5% in the 4th quarter. Capital International Investors now owns 30,511,649 shares of the oil and gas producer’s stock worth $986,874,000 after buying an additional 4,092,149 shares during the last quarter. Public Investment Fund acquired a new stake in Canadian Natural Resources in the 1st quarter worth about $408,129,000. Finally, Invesco Ltd. boosted its stake in Canadian Natural Resources by 4.2% in the 1st quarter. Invesco Ltd. now owns 27,788,884 shares of the oil and gas producer’s stock worth $376,539,000 after buying an additional 1,112,368 shares during the last quarter. Hedge funds and other institutional investors own 68.01% of the company’s stock.

About Canadian Natural Resources

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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