Canadian Natural Resources Limited (TSE:CNQ) Receives C$90.88 Average Target Price from Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$90.88.

CNQ has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of Canadian Natural Resources from C$110.00 to C$55.00 and set a “hold” rating for the company in a research report on Monday, July 15th. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Raymond James lowered their target price on Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Royal Bank of Canada lifted their price target on Canadian Natural Resources from C$60.00 to C$62.00 in a research note on Friday, August 2nd. Finally, Desjardins increased their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a research note on Friday, August 2nd.

Insider Transactions at Canadian Natural Resources

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. Insiders own 4.24% of the company’s stock.

Canadian Natural Resources Trading Up 0.8 %

TSE:CNQ opened at C$44.30 on Friday. Canadian Natural Resources has a 1 year low of C$40.02 and a 1 year high of C$56.49. 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 stock has a fifty day moving average price of C$48.04 and a two-hundred day moving average price of C$77.03. The stock has a market capitalization of C$94.36 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. As a group, sell-side analysts anticipate that Canadian Natural Resources will post 4.2311277 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is presently 59.09%.

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).