Canadian Natural Resources (TSE:CNQ) Given New C$59.00 Price Target at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lowered by Royal Bank of Canada from C$62.00 to C$59.00 in a research note released on Tuesday, BayStreet.CA reports.

Several other research analysts have also recently weighed in on CNQ. Wolfe Research upgraded Canadian Natural Resources to a hold rating in a research report on Thursday, July 18th. Scotiabank lowered their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a research note on Tuesday, June 11th. Desjardins lifted their price target on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Raymond James lowered their price target on 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. Finally, Jefferies Financial Group reduced their price objective on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating on the stock in a research report on Monday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of C$90.31.

Canadian Natural Resources Trading Up 2.4 %

Canadian Natural Resources stock opened at C$45.80 on Tuesday. The stock has a 50-day moving average of C$47.58 and a two-hundred day moving average of C$75.36. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49. The stock has a market cap of C$97.55 billion, a PE ratio of 13.01, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The firm had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. On average, research analysts anticipate that Canadian Natural Resources will post 4.2311277 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.525 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.10 dividend on an annualized basis and a yield of 4.59%. Canadian Natural Resources’s dividend payout ratio is currently 59.09%.

Insider Buying and Selling at Canadian Natural Resources

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’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. Company insiders own 4.24% 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).