Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$110.00 at Jefferies Financial Group

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by Jefferies Financial Group from C$86.00 to C$110.00 in a research note released on Friday, BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other research firms have also issued reports on CNQ. Wells Fargo & Company lowered their price objective on Canadian Natural Resources from C$95.00 to C$86.00 in a research note on Thursday, December 14th. Royal Bank of Canada raised their price target on Canadian Natural Resources from C$100.00 to C$120.00 in a research note on Tuesday, April 9th. ATB Capital raised their price target on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. UBS Group raised their price target on Canadian Natural Resources from C$113.00 to C$124.00 in a research note on Tuesday, April 9th. Finally, Evercore raised their price target on Canadian Natural Resources from C$105.00 to C$115.00 in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of Moderate Buy and an average price target of C$106.67.

Canadian Natural Resources Price Performance

TSE:CNQ opened at C$106.85 on Friday. The firm has a market capitalization of C$114.33 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a 1 year low of C$69.83 and a 1 year high of C$112.99. The business has a 50 day simple moving average of C$96.48 and a 200-day simple moving average of C$90.67. The company has a debt-to-equity ratio of 31.01, a current ratio of 0.96 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.14 by C$0.20. The business had revenue of C$9.55 billion during the quarter, compared to analyst estimates of C$9.04 billion. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. Equities analysts forecast that Canadian Natural Resources will post 7.6092114 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 3.93%. Canadian Natural Resources’s payout ratio is 51.54%.

Insider Activity

In other news, Senior Officer Trevor Wagil sold 1,126 shares of Canadian Natural Resources stock in a transaction on Friday, January 26th. The stock was sold at an average price of C$86.33, for a total value of C$97,204.88. In other news, Senior Officer Warren Paul Raczynski sold 3,000 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. Also, Senior Officer Trevor Wagil sold 1,126 shares of Canadian Natural Resources stock in a transaction on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total value of C$97,204.88. In the last three months, insiders have sold 332,363 shares of company stock worth $32,567,851. 2.20% of the stock is currently owned by company 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).