Analysts Set Canadian Natural Resources Limited (TSE:CNQ) Price Target at C$71.94

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$71.94.

A number of equities research analysts have recently weighed in on the company. TD Securities set a C$58.00 price target on Canadian Natural Resources and gave the company a “buy” rating in a report on Tuesday, December 3rd. CIBC increased their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research report on Monday, December 16th. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. Finally, BMO Capital Markets decreased their target price on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th.

Insiders Place Their Bets

In other news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$43.07, for a total value of C$818,254.00. In the last three months, insiders have sold 35,422 shares of company stock worth $1,603,582. 4.26% of the stock is owned by corporate insiders.

Canadian Natural Resources Stock Up 1.6 %

TSE:CNQ opened at C$43.17 on Tuesday. The stock has a 50-day simple moving average of C$47.26 and a 200 day simple moving average of C$49.64. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49. The company has a market capitalization of C$91.95 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.525 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.10 dividend on an annualized basis and a yield of 4.86%. Canadian Natural Resources’s dividend payout ratio is presently 60.97%.

About Canadian Natural Resources

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).