Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$60.00

Canadian Natural Resources (TSE:CNQFree Report) (NYSE:CNQ) had its price objective upped by ATB Capital from C$58.00 to C$60.00 in a report issued on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

CNQ has been the topic of several other reports. Wolfe Research raised Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Scotiabank cut 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. Jefferies Financial Group cut their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada boosted their price target on Canadian Natural Resources from C$59.00 to C$62.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, Desjardins raised Canadian Natural Resources from a hold rating to a buy rating and lifted their target price for the stock from C$56.00 to C$59.00 in a report on Tuesday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of C$75.71.

Get Our Latest Analysis on Canadian Natural Resources

Canadian Natural Resources Trading Up 0.5 %

Shares of TSE:CNQ opened at C$51.71 on Tuesday. The stock has a 50 day moving average of C$47.18 and a 200 day moving average of C$69.99. The company has a market cap of C$110.14 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 12-month low of C$40.02 and a 12-month high of C$56.49.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last posted its quarterly earnings results 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 business had revenue of C$9.05 billion during the quarter, compared to the consensus estimate of C$8.41 billion. As a group, equities research analysts expect that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 59.26%.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’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 the company’s 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. 4.26% of the stock is owned by company insiders.

About Canadian Natural Resources

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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).

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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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