Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$60.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by ATB Capital from C$58.00 to C$60.00 in a research report released on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Canadian Natural Resources from C$59.00 to C$62.00 and gave the company an outperform rating in a research note on Tuesday. Desjardins upgraded Canadian Natural Resources from a hold rating to a buy rating and lifted their target price for the company from C$56.00 to C$59.00 in a research note on Tuesday. Scotiabank reduced their price target on 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. Wolfe Research raised Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group reduced their price target on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating for the company in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Natural Resources currently has a consensus rating of Hold and a consensus target price of C$75.71.

Canadian Natural Resources Trading Up 0.5 %

CNQ opened at C$51.71 on Tuesday. 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 cap of C$110.14 billion, a P/E ratio of 14.82, a PEG ratio of 0.53 and a beta of 1.91. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. The business’s 50-day simple moving average is C$47.18 and its 200-day simple moving average is C$69.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. As a group, equities research analysts expect that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a dividend of $0.525 per share. The ex-dividend date is Friday, December 13th. This represents a $2.10 annualized dividend and a yield of 4.06%. Canadian Natural Resources’s dividend payout ratio is presently 59.26%.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of the firm’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. 4.26% of the stock is currently owned by insiders.

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).