CIBC Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$59.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price upped by CIBC from C$57.50 to C$59.00 in a research report sent to investors on Wednesday, BayStreet.CA reports.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets lifted their target price on shares of Canadian Natural Resources from C$57.50 to C$60.00 and gave the company an outperform rating in a research note on Tuesday. Desjardins upgraded shares of Canadian Natural Resources from a hold rating to a buy rating and raised their price target for the stock from C$56.00 to C$59.00 in a research report on Tuesday. Gerdes Energy Research lifted their target price on shares of Canadian Natural Resources from C$52.00 to C$53.00 in a research report on Tuesday. TD Securities upped their price objective on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a buy rating in a research note on Tuesday. Finally, National Bankshares increased their price target on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a sector perform rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of C$75.71.

Canadian Natural Resources Stock Up 0.5 %

Shares of TSE CNQ opened at C$51.71 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The stock has a fifty day moving average price of C$47.18 and a 200 day moving average price of C$69.99. The company has a market cap of C$110.14 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.53 and a beta of 1.91. Canadian Natural Resources has a 12-month low of C$40.02 and a 12-month high of C$56.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. Research analysts anticipate that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is 59.26%.

Insider Activity at Canadian Natural Resources

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

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).