Jefferies Financial Group Trims Canadian Natural Resources (TSE:CNQ) Target Price to C$49.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target cut by Jefferies Financial Group from C$52.00 to C$49.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other research analysts have also recently commented on CNQ. TD Securities upped their target price on Canadian Natural Resources from C$49.00 to C$60.00 and gave the company a buy rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on Canadian Natural Resources from C$60.00 to C$62.00 in a research note on Friday, August 2nd. Raymond James dropped their price objective 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. Scotiabank dropped their price objective 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. Finally, Wolfe Research raised Canadian Natural Resources to a hold rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Canadian Natural Resources presently has an average rating of Hold and an average target price of C$90.31.

Canadian Natural Resources Price Performance

TSE:CNQ opened at C$45.80 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The company has a market capitalization of C$97.55 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.53 and a beta of 1.91. Canadian Natural Resources has a 12 month low of C$40.02 and a 12 month high of C$56.49. The business’s 50-day moving average is C$47.58 and its 200 day moving average is C$75.36.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share 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 company had revenue of C$9.05 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. On average, equities research analysts forecast that Canadian Natural Resources will post 4.2311277 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.10 annualized dividend and a dividend yield of 4.59%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 59.09%.

Insider Activity 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 shares were sold at an average price of C$48.43, for a total value of C$181,612.50. 4.24% 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).