Raymond James Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$51.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price boosted by Raymond James from C$48.00 to C$51.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock. Raymond James also issued estimates for Canadian Natural Resources’ FY2024 earnings at $3.39 EPS, FY2025 earnings at $4.17 EPS, FY2026 earnings at $3.75 EPS, FY2027 earnings at $3.92 EPS and FY2028 earnings at $4.16 EPS.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price target on shares of 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. National Bankshares increased their target price 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. Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the company an outperform rating in a research note on Tuesday. ATB Capital increased their target price on shares of Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an outperform rating in a research note on Tuesday. Finally, Scotiabank reduced their target price on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating for the company in a research note on Tuesday, June 11th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of C$75.71.

Canadian Natural Resources Stock Up 0.5 %

CNQ stock opened at C$51.71 on Tuesday. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a 52-week low of C$40.02 and a 52-week high of C$56.49. The company has a 50-day moving average of C$47.18 and a two-hundred day moving average of C$69.99. The stock has a market capitalization of C$110.14 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

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, beating analysts’ consensus estimates 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 company had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. As a group, equities research analysts anticipate that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.525 per share. 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 payout ratio is 59.26%.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction that occurred 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 news, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction that occurred 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. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. Company insiders own 4.26% of the company’s stock.

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).