Canadian Natural Resource Ltd (NYSE:CNQ) (TSE:CNQ) shares gapped down before the market opened on Friday . The stock had previously closed at $29.74, but opened at $29.00. Canadian Natural Resource shares last traded at $28.16, with a volume of 5641045 shares changing hands.
CNQ has been the subject of a number of analyst reports. ValuEngine cut Canadian Natural Resource from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Canadian Natural Resource in a report on Friday, November 2nd. Raymond James reissued a “buy” rating on shares of Canadian Natural Resource in a report on Friday, November 2nd. Macquarie cut Canadian Natural Resource from an “outperform” rating to a “neutral” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research cut Canadian Natural Resource from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $47.60.
The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market cap of $35.43 billion, a PE ratio of 33.93, a PEG ratio of 1.78 and a beta of 1.37.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Monday, December 10th will be issued a $0.255 dividend. The ex-dividend date is Friday, December 7th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.62%. Canadian Natural Resource’s dividend payout ratio is 124.10%.
Institutional investors have recently added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. bought a new position in shares of Canadian Natural Resource in the third quarter valued at about $148,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Canadian Natural Resource in the third quarter valued at about $153,000. Cubist Systematic Strategies LLC raised its holdings in shares of Canadian Natural Resource by 50.0% in the second quarter. Cubist Systematic Strategies LLC now owns 5,400 shares of the oil and gas producer’s stock valued at $195,000 after buying an additional 1,800 shares during the last quarter. Checchi Capital Advisers LLC bought a new stake in Canadian Natural Resource during the 3rd quarter worth about $212,000. Finally, Signaturefd LLC raised its holdings in Canadian Natural Resource by 49.7% during the 2nd quarter. Signaturefd LLC now owns 6,999 shares of the oil and gas producer’s stock worth $252,000 after purchasing an additional 2,323 shares during the last quarter. 67.01% of the stock is owned by institutional investors and hedge funds.
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Canadian Natural Resource Company Profile (NYSE:CNQ)
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). 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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