Canadian Natural Resources (TSE:CNQ) Given New C$49.00 Price Target at Jefferies Financial Group

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective trimmed by Jefferies Financial Group from C$52.00 to C$49.00 in a research report report published on Monday, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other brokerages have also issued reports on CNQ. 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 for the company in a research report on Wednesday, June 12th. TD Securities lifted their price objective on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a buy rating in a report on Friday, August 2nd. Scotiabank reduced their target price 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. Desjardins lifted their price target on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Finally, Wolfe Research upgraded Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of C$90.50.

Canadian Natural Resources Trading Up 1.2 %

Canadian Natural Resources stock opened at C$43.93 on Monday. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The stock has a market cap of C$93.57 billion, a P/E ratio of 12.48, a PEG ratio of 0.53 and a beta of 1.91. The firm’s fifty day moving average price is C$47.80 and its 200-day moving average price is C$76.30.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The business had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. Equities research analysts forecast that Canadian Natural Resources will post 4.2311277 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is 59.09%.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total transaction of C$181,612.50. 4.24% of the stock is owned by insiders.

About Canadian Natural Resources

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).