Gerdes Energy Research Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$53.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective boosted by Gerdes Energy Research from C$52.00 to C$53.00 in a report published on Tuesday morning, BayStreet.CA reports.

CNQ has been the subject of several other reports. Royal Bank of Canada decreased their price objective on shares of Canadian Natural Resources from C$62.00 to C$59.00 in a research report on Tuesday, September 17th. Scotiabank cut their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a report on Tuesday, June 11th. TD Securities cut their price target on shares of Canadian Natural Resources from C$60.00 to C$56.00 and set a buy rating on the stock in a report on Tuesday, October 1st. Wolfe Research raised shares of Canadian Natural Resources to a hold rating in a research note on Thursday, July 18th. Finally, Raymond James dropped their price objective on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating on the stock in a research note on Wednesday, June 12th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of C$75.71.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at C$51.71 on Tuesday. The firm has a market capitalization 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 quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The company has a 50 day moving average price of C$47.18 and a 200 day moving average price of C$69.99. Canadian Natural Resources has a 52 week low of C$40.02 and a 52 week high of C$56.49.

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 analyst estimates of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. Sell-side analysts expect that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Canadian Natural Resources Dividend Announcement

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

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total value of C$202,966.99. 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 value of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources 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 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).