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 price target upped by Royal Bank of Canada from C$62.00 to C$63.00 in a research note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Jefferies Financial Group boosted their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th. ATB Capital boosted their price target on Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. National Bankshares boosted their price target on Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Tuesday, October 8th. Finally, Raymond James boosted their price target on Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$74.31.

Canadian Natural Resources Stock Down 0.1 %

TSE:CNQ traded down C$0.07 during trading hours on Friday, reaching C$47.28. 3,601,121 shares of the company traded hands, compared to its average volume of 11,837,672. The business’s 50-day moving average price is C$47.36 and its two-hundred day moving average price is C$64.64. The stock has a market capitalization of C$100.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 1 year low of C$40.02 and a 1 year high of C$56.49. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping 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 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%. Analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a $0.525 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.44%. Canadian Natural Resources’s dividend payout ratio is currently 60.97%.

Insider Buying and Selling

In related 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. In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction that occurred 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 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 value of C$183,900.00. 4.26% of the stock is owned by company 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).