Canadian Natural Resources (TSE:CNQ) Price Target Increased to C$62.00 by Analysts at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lifted by Royal Bank of Canada from C$60.00 to C$62.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

Other analysts have also issued research reports about the company. Evercore boosted their price target on Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Jefferies Financial Group lowered their price target on Canadian Natural Resources from C$110.00 to C$55.00 and set a hold rating for the company in a report on Monday, July 15th. UBS Group boosted their price target on Canadian Natural Resources from C$113.00 to C$124.00 in a report on Tuesday, April 9th. Wolfe Research upgraded Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Canadian Natural Resources from C$110.00 to C$126.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$90.88.

Canadian Natural Resources Stock Down 4.6 %

Shares of TSE:CNQ opened at C$46.25 on Friday. Canadian Natural Resources has a 1 year low of C$38.90 and a 1 year high of C$56.49. The business has a 50 day simple moving average of C$59.92 and a two-hundred day simple moving average of C$84.24. The firm has a market capitalization of C$49.49 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.53 and a beta of 1.97. The company has a debt-to-equity ratio of 31.83, a current ratio of 0.88 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, May 2nd. The company reported C$1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.40 by C($0.03). The business had revenue of C$8.24 billion for the quarter, compared to analysts’ expectations of C$8.17 billion. Canadian Natural Resources had a net margin of 20.86% and a return on equity of 19.01%. On average, equities analysts predict that Canadian Natural Resources will post 6.8572356 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s payout ratio is presently 58.65%.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction on Monday, May 27th. The stock was sold at an average price of C$104.80, for a total transaction of C$236,012.98. In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s 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. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction on Monday, May 27th. The shares were sold at an average price of C$104.80, for a total value of C$236,012.98. Over the last three months, insiders have sold 6,003 shares of company stock valued at $417,729. Corporate insiders own 2.21% of the company’s stock.

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).