Canadian Natural Resources (NYSE:CNQ) price target raised to C$95.00 at BMO Capital Markets


Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) had its price target raised by BMO Capital Markets from CA$92.00 to CA$95.00 in a research report released Friday morning, reports The Fly.

Several other stock analysts also weighed in on the company. CIBC raised its price target on Canadian natural resources from C$80.00 to C$90.00 in a Thursday, April 14 research note. TD Securities raised its price target on Canadian natural resources from C$90.00 to C$94.00 in a research note on Friday. Wells Fargo & Company raised its price target on Canadian natural resources from $61.00 to $79.00 and gave the stock an equal weight rating in a Friday, March 11 research note. StockNews.com began covering Canadian natural resources in a research note on Thursday, March 31. They set a buy rating for the company. Finally, Scotiabank raised its price target on Canadian natural resources from C$80.00 to C$88.00 in a Monday, April 18 research note. Five investment analysts gave the stock a hold rating, eleven gave the stock a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat data, Canadian Natural Resources currently has an average buy rating and average target price of $76.18.

Shares of NYSE CNQ traded down $0.10 during Friday’s trading, hitting $63.71. 2,157,964 shares of the company were traded, against an average volume of 2,628,089. The company’s fifty-day simple moving average is $62.23 and its 200-day simple moving average is 51.46 $. The stock has a market capitalization of $73.95 billion, a P/E ratio of 10.06, a PEG ratio of 0.40 and a beta of 1.53. Canadian Natural Resources has a 12-month low of $29.53 and a 12-month high of $70.60. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt ratio of 0.37.

Canadian Natural Resources (NYSE:CNQ – Get Rating) (TSE:CNQ) last reported quarterly results on Thursday, March 3. The oil and gas producer reported earnings per share of $2.21 for the quarter, beating the consensus estimate of $1.67 by $0.54. Canadian Natural Resources posted a return on equity of 21.20% and a net margin of 23.33%. The company posted revenue of $9.21 billion in the quarter, versus analyst estimates of $8.56 billion. In the same quarter of the previous year, the company achieved EPS of $0.03. As a group, research analysts expect Canadian Natural Resources to post EPS of 8.6 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5. Investors of record on Friday, June 17 will receive a dividend of $0.583. This represents a dividend of $2.33 on an annualized basis and a yield of 3.66%. The ex-dividend date is Thursday, June 16. Canadian Natural Resources’ dividend payout ratio is currently 37.44%.

A number of institutional investors and hedge funds have recently increased or reduced their stake in CNQ. Amundi Pioneer Asset Management Inc. increased its holdings in Canadian Natural Resources by 29.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 674,844 shares of the oil and gas producer valued at $18,558,000 after acquiring an additional 152,046 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Canadian Natural Resources in the third quarter valued at approximately $253,000. Advisor Group Holdings Inc. increased its holdings of Canadian Natural Resources by 4.7% in the third quarter. Advisor Group Holdings Inc. now owns 82,253 shares of the oil and gas producer valued at $3,006,000 after acquiring 3,669 additional shares in the last quarter. Candriam Luxembourg SCA increased its holdings in Canadian Natural Resources by 2.4% in the third quarter. Candriam Luxembourg SCA now owns 19,706 shares in the oil and gas producer valued at $720,000 after acquiring 461 additional shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Canadian Natural Resources by 361.1% in the third quarter. First Horizon Advisors Inc. now owns 1,577 shares of the oil and gas producer valued at $176,000 after acquiring 1,235 additional shares in the last quarter. Hedge funds and other institutional investors own 68.45% of the company’s shares.

About Canadian Natural Resources (Get a rating)

Canadian Natural Resources Limited acquires, explores, develops, produces, markets and sells 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.

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Richard L. Militello