Canadian Natural Resources (TSE:CNQ) Price Target Increased to C$62.00 by Analysts at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective upped by Royal Bank of Canada from C$59.00 to C$62.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on CNQ. Gerdes Energy Research upped their target price on shares of Canadian Natural Resources from C$52.00 to C$53.00 in a research note on Tuesday. TD Securities upped their target price on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a buy rating in a research note on Tuesday. Raymond James dropped their target price on shares of 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 target price on shares of 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 shares of Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of C$75.71.

Canadian Natural Resources Trading Up 0.5 %

TSE:CNQ opened at C$51.71 on Tuesday. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The company’s 50-day simple moving average is C$47.18 and its 200 day simple moving average is C$69.99. The firm has a market capitalization of C$110.14 billion, a P/E ratio of 14.82, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results 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. The firm had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. As a group, analysts forecast that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 dividend on an annualized basis and a yield of 4.06%. Canadian Natural Resources’s dividend payout ratio is currently 59.26%.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total transaction of C$202,966.99. In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction on Monday, October 7th. The shares were 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 on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. 4.26% 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).