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

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

Several other equities analysts have also recently issued reports on the company. Raymond James reduced their target price on 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. Desjardins upped their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a report on Friday, August 2nd. Gerdes Energy Research lifted their target price on shares of Canadian Natural Resources from C$52.00 to C$53.00 in a research note on Tuesday. BMO Capital Markets increased their price target on shares of Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, National Bankshares cut their price objective on Canadian Natural Resources from C$58.00 to C$52.00 in a research report on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of C$78.53.

Canadian Natural Resources Trading Down 0.4 %

Shares of CNQ opened at C$49.61 on Tuesday. The stock has a market capitalization of C$105.67 billion, a P/E ratio of 14.11, a PEG 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$47.03 and a two-hundred day simple moving average of C$70.84.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted 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. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The company had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. On average, research analysts anticipate that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Canadian Natural Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is 59.26%.

Insider Buying and Selling at Canadian Natural Resources

In related news, Senior Officer Trevor Wagil sold 4,272 shares of the firm’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 Canadian Natural Resources news, 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. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources 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. 4.26% of the stock is 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).