Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$51.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective upped by Raymond James from C$48.00 to C$51.00 in a report published on Tuesday morning, BayStreet.CA reports. They currently have a market perform rating on the stock. Raymond James also issued estimates for Canadian Natural Resources’ FY2024 earnings at $3.39 EPS, FY2025 earnings at $4.17 EPS, FY2026 earnings at $3.75 EPS, FY2027 earnings at $3.92 EPS and FY2028 earnings at $4.16 EPS.

A number of other research analysts have also recently weighed in on CNQ. TD Securities lifted their target price on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a buy rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the stock an outperform rating in a research note on Tuesday. Scotiabank decreased their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating for the company in a research note on Tuesday, June 11th. National Bankshares lifted their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a sector perform rating in a report on Tuesday. Finally, Jefferies Financial Group decreased their price objective on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating for the company in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of Hold and an average target price of C$75.24.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at C$51.47 on Tuesday. The company has a market capitalization of C$109.63 billion, a PE ratio of 14.61, a P/E/G ratio of 0.53 and a beta of 1.91. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The firm has a fifty day simple moving average of C$47.13 and a two-hundred day simple moving average of C$70.12.

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, beating analysts’ consensus estimates of C$0.84 by C$0.04. The business had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. Research analysts expect that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Canadian Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be given a $0.525 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.08%. Canadian Natural Resources’s dividend payout ratio is currently 59.26%.

Insider Activity at Canadian Natural Resources

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’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. In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction dated 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 stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. 4.26% of the stock is currently owned by 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).