Canadian Natural Resources (TSE:CNQ) Given New C$63.00 Price Target at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price lifted by Royal Bank of Canada from C$62.00 to C$63.00 in a research note published on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

CNQ has been the topic of a number of other reports. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Jefferies Financial Group boosted their price objective on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Raymond James raised their target price on Canadian Natural Resources from C$50.00 to C$51.00 and gave the stock a “market perform” rating in a research report on Friday. ATB Capital increased their price objective on shares of Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, CIBC raised their price objective on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$74.31.

Canadian Natural Resources Stock Up 0.7 %

Canadian Natural Resources stock opened at C$47.63 on Friday. The company has a market capitalization of C$101.45 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.53 and a beta of 1.89. 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 firm’s fifty day simple moving average is C$47.35 and its 200-day simple moving average is C$63.89. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49.

Canadian Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given 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 4.41%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.97%.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction 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 Trevor Wagil sold 4,272 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total value of C$202,966.99. Also, 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. Corporate insiders own 4.26% of the company’s stock.

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).