Canadian Natural Resources (TSE:CNQ) Price Target Lowered to C$49.00 at Jefferies Financial Group

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective trimmed by Jefferies Financial Group from C$52.00 to C$49.00 in a research report released on Monday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other research firms have also weighed in on CNQ. TD Securities raised their price target on shares of 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. Royal Bank of Canada raised their price target on shares of Canadian Natural Resources from C$60.00 to C$62.00 in a report on Friday, August 2nd. Desjardins raised their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a hold rating in a report on Friday, August 2nd. Raymond James decreased their price objective 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 report on Wednesday, June 12th. Finally, Scotiabank decreased their price objective on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating for the company in a report on Tuesday, June 11th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of C$90.31.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$45.80 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The company has a market cap of C$97.55 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.53 and a beta of 1.91. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The firm’s 50 day moving average is C$47.58 and its two-hundred day moving average is C$75.36.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Analysts expect that Canadian Natural Resources will post 4.2311277 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.10 annualized dividend and a dividend yield of 4.59%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 59.09%.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$48.43, for a total value of C$181,612.50. Corporate insiders own 4.24% of the company’s stock.

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).