Canadian Natural Resources (NYSE:CNQ) Stock Price Up 4.8%

Shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) traded up 4.8% on Tuesday . The stock traded as high as $34.82 and last traded at $34.81. 2,237,827 shares traded hands during trading, a decline of 60% from the average session volume of 5,540,809 shares. The stock had previously closed at $33.21.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNQ shares. Scotiabank reiterated a “sector perform” rating on shares of Canadian Natural Resources in a report on Tuesday, June 11th. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wolfe Research began coverage on shares of Canadian Natural Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Hold” and a consensus price target of $49.50.

Canadian Natural Resources Stock Performance

The stock has a market capitalization of $74.05 billion, a P/E ratio of 13.23 and a beta of 1.51. The stock has a 50 day simple moving average of $34.51 and a two-hundred day simple moving average of $36.30. The company has a quick ratio of 0.59, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, August 1st. The oil and gas producer reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. The business had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Canadian Natural Resources had a net margin of 18.05% and a return on equity of 22.09%. During the same period last year, the business earned $0.43 earnings per share. On average, equities analysts forecast that Canadian Natural Resources Limited will post 2.47 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.384 per share. The ex-dividend date is Friday, September 13th. This represents a $1.54 annualized dividend and a dividend yield of 4.41%. Canadian Natural Resources’s dividend payout ratio is presently 61.75%.

Institutional Investors Weigh In On Canadian Natural Resources

Hedge funds have recently bought and sold shares of the company. Mattson Financial Services LLC bought a new stake in Canadian Natural Resources in the second quarter valued at approximately $81,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Canadian Natural Resources by 123.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,920,000 shares of the oil and gas producer’s stock worth $317,766,000 after acquiring an additional 4,920,000 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its stake in Canadian Natural Resources by 87.0% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 81,342 shares of the oil and gas producer’s stock valued at $2,896,000 after acquiring an additional 37,849 shares during the period. Sanctuary Advisors LLC acquired a new stake in Canadian Natural Resources during the 2nd quarter valued at $3,485,000. Finally, Souders Financial Advisors boosted its position in Canadian Natural Resources by 103.0% during the second quarter. Souders Financial Advisors now owns 99,999 shares of the oil and gas producer’s stock worth $3,560,000 after purchasing an additional 50,744 shares during the period. 74.03% of the stock is currently owned by institutional investors and hedge funds.

Canadian Natural Resources Company Profile

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).