Canaccord Genuity Reaffirms Buy Rating for Canadian Natural Resources Limited (CNQ)

Canaccord Genuity restated their buy rating on shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in a research report released on Thursday. Canaccord Genuity currently has a $48.00 price objective on the oil and gas producer’s stock.

Several other research firms have also weighed in on CNQ. ValuEngine raised shares of Canadian Natural Resources Limited from a sell rating to a hold rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of Canadian Natural Resources Limited from a hold rating to a sell rating in a research note on Tuesday, August 8th. Morgan Stanley lifted their price objective on shares of Canadian Natural Resources Limited from $46.00 to $52.00 and gave the stock an overweight rating in a research note on Friday, October 13th. Finally, Citigroup Inc. lowered shares of Canadian Natural Resources Limited from a buy rating to a neutral rating and reduced their price objective for the stock from $40.00 to $33.00 in a research note on Friday, July 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $45.40.

Canadian Natural Resources Limited (NYSE CNQ) traded up $0.71 during trading on Thursday, reaching $36.73. 3,006,991 shares of the company traded hands, compared to its average volume of 1,681,948. The firm has a market cap of $43,772.04, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 7.28 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be issued a $0.214 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.33%. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is presently 52.07%.

Several hedge funds and other institutional investors have recently bought and sold shares of CNQ. FTB Advisors Inc. raised its holdings in shares of Canadian Natural Resources Limited by 1.3% in the second quarter. FTB Advisors Inc. now owns 3,180 shares of the oil and gas producer’s stock valued at $102,000 after purchasing an additional 41 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Canadian Natural Resources Limited in the second quarter valued at approximately $126,000. Lucas Capital Management acquired a new stake in shares of Canadian Natural Resources Limited in the third quarter valued at approximately $203,000. Greenleaf Trust acquired a new stake in shares of Canadian Natural Resources Limited in the second quarter valued at approximately $204,000. Finally, Morningstar Investment Services LLC acquired a new stake in shares of Canadian Natural Resources Limited in the second quarter valued at approximately $218,000. Institutional investors own 58.97% of the company’s stock.

Canadian Natural Resources Limited Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

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