Canadian Natural Resources Limited (CNQ) Earns Buy Rating from Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) reiterated their buy rating on shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a $36.00 price objective on the oil and gas producer’s stock.

Several other research firms have also commented on CNQ. Canaccord Genuity reiterated a buy rating and set a $47.00 price target on shares of Canadian Natural Resources Limited in a report on Saturday, March 11th. Zacks Investment Research upgraded Canadian Natural Resources Limited from a hold rating to a strong-buy rating and set a $35.00 price target on the stock in a report on Friday, May 5th. Royal Bank Of Canada lifted their price target on Canadian Natural Resources Limited from $55.00 to $60.00 and gave the stock a top pick rating in a report on Friday, March 10th. Finally, TheStreet upgraded Canadian Natural Resources Limited from a d+ rating to a c- rating in a report on Wednesday, April 12th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $46.73.

Shares of Canadian Natural Resources Limited (NYSE CNQ) traded up 1.31% during midday trading on Thursday, hitting $28.70. 497,534 shares of the stock traded hands. The stock has a market cap of $32.06 billion, a price-to-earnings ratio of 287.00 and a beta of 1.41. Canadian Natural Resources Limited has a 12-month low of $27.52 and a 12-month high of $35.28. The company’s 50 day moving average price is $29.90 and its 200-day moving average price is $31.26.

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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 16th will be given a dividend of $0.2014 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, June 14th. Canadian Natural Resources Limited’s dividend payout ratio is presently 888.89%.

Institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its position in shares of Canadian Natural Resources Limited by 9.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,703,519 shares of the oil and gas producer’s stock worth $86,264,000 after buying an additional 230,403 shares during the period. Lincluden Management Ltd. increased its position in shares of Canadian Natural Resources Limited by 8.7% in the fourth quarter. Lincluden Management Ltd. now owns 379,290 shares of the oil and gas producer’s stock worth $12,075,000 after buying an additional 30,272 shares during the period. Norges Bank acquired a new position in shares of Canadian Natural Resources Limited during the fourth quarter worth about $308,038,000. 3G Capital Partners LP acquired a new position in shares of Canadian Natural Resources Limited during the fourth quarter worth about $15,918,000. Finally, Jarislowsky Fraser Ltd increased its position in shares of Canadian Natural Resources Limited by 15.9% in the fourth quarter. Jarislowsky Fraser Ltd now owns 21,595,007 shares of the oil and gas producer’s stock worth $689,049,000 after buying an additional 2,970,154 shares during the period. 65.68% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Canadian Natural Resources Limited (NYSE:CNQ)

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