Canadian Natural Resources (TSE:CNQ) Raised to “Buy” at Gerdes Energy Research

Gerdes Energy Research upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a neutral rating to a buy rating in a report released on Monday,BayStreet.CA reports.

A number of other equities research analysts have also commented on CNQ. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. ATB Capital increased their price target on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Jefferies Financial Group boosted their price objective on Canadian Natural Resources from C$49.00 to C$57.00 in a research note on Friday, October 11th. National Bankshares raised their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Finally, CIBC boosted their price target on Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.94.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$42.84 on Monday. The stock has a market capitalization of C$91.25 billion, a PE ratio of 12.21, a PEG ratio of 0.53 and a beta of 1.89. The business’s 50 day simple moving average is C$47.55 and its 200 day simple moving average is C$51.26. 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 one year low of C$40.02 and a one year high of C$56.49.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is currently 60.97%.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$48.70, for a total value of C$97,405.40. 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 value of C$183,900.00. In the last 90 days, insiders sold 16,422 shares of company stock worth $785,328. 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).