Media coverage about Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) has been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Canadian Natural Resources Limited earned a coverage optimism score of 0.17 on Accern’s scale. Accern also assigned media stories about the oil and gas producer an impact score of 46.9338132017263 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern’s rankings:
- Pioneer Natural Resources Company (PXD) Price Target Cut to $136.00 (vothemes.com)
- Canadian Natural Resources Limited (NYSE:CNQ) Stake Boosted by Sei Investments Co (elcumanes.com)
- Canadian Natural Resources Limited (CNQ) Cut to Sell at Zacks Investment Research (americanbankingnews.com)
- Canadian Natural Resources among bidders for Cenovus’ Pelican Lake: Report – BNN (bnn.ca)
- Dividend Stock to Note: Canadian Natural Resources Limited (CNQ)’s Yield stick at 2.40% – Voice Of Analysts (analystsbuzz.com)
Canadian Natural Resources Limited (NYSE:CNQ) traded down 0.34% during mid-day trading on Wednesday, reaching $32.08. 2,232,305 shares of the company’s stock traded hands. The stock’s 50 day moving average is $29.50 and its 200-day moving average is $30.60. Canadian Natural Resources Limited has a 52 week low of $27.52 and a 52 week high of $35.28. The stock has a market capitalization of $35.84 billion, a PE ratio of 305.52 and a beta of 1.48.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a $0.2212 dividend. This is a boost from Canadian Natural Resources Limited’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.76%. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is 78.43%.
Canadian Natural Resources Limited announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 17th that permits the company to repurchase 27,930,000 outstanding shares. This repurchase authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have commented on CNQ. BidaskClub raised shares of Canadian Natural Resources Limited from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Citigroup Inc. downgraded shares of Canadian Natural Resources Limited from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $33.00 in a research report on Friday, July 21st. They noted that the move was a valuation call. TheStreet raised shares of Canadian Natural Resources Limited from a “d+” rating to a “c-” rating in a research report on Wednesday, April 12th. Morgan Stanley raised shares of Canadian Natural Resources Limited from an “equal weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a research report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of Canadian Natural Resources Limited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $45.46.
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About Canadian Natural Resources Limited
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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