National Bankshares Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$52.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price cut by National Bankshares from C$58.00 to C$52.00 in a research report released on Friday, BayStreet.CA reports.

Several other brokerages have also weighed in on CNQ. TD Securities boosted their price objective on Canadian Natural Resources from C$49.00 to C$60.00 and gave the company a buy rating in a report on Friday, August 2nd. Scotiabank dropped their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a research report on Tuesday, June 11th. Wolfe Research raised shares of Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Raymond James lowered their target price on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating for the company in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada reduced their price target on shares of Canadian Natural Resources from C$62.00 to C$59.00 in a research report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of C$86.06.

Canadian Natural Resources Stock Up 2.1 %

Shares of TSE CNQ opened at C$44.89 on Friday. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a 1 year low of C$40.02 and a 1 year high of C$56.49. The stock’s 50-day simple moving average is C$47.09 and its 200-day simple moving average is C$73.03. The firm has a market cap of C$95.62 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The company had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. As a group, equities analysts anticipate that Canadian Natural Resources will post 3.5601888 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s payout ratio is currently 59.26%.

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).