Canadian Natural Resources (TSE:CNQ) Cut to Neutral at Gerdes Energy Research

Gerdes Energy Research lowered shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a neutral rating in a research note released on Friday, BayStreet.CA reports.

A number of other research firms have also issued reports on CNQ. Wolfe Research upgraded shares of Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Raymond James reduced their target price on Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating for the company in a report on Wednesday, June 12th. Scotiabank lowered their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a report on Tuesday, June 11th. TD Securities dropped their price target on Canadian Natural Resources from C$60.00 to C$56.00 and set a buy rating on the stock in a research report on Tuesday, October 1st. Finally, Desjardins raised their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a research report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of C$85.81.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at C$49.81 on Friday. 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 company’s 50-day moving average price is C$46.98 and its two-hundred day moving average price is C$71.19. Canadian Natural Resources has a 52 week low of C$40.02 and a 52 week high of C$56.49. The stock has a market cap of C$106.10 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping the consensus estimate 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 firm had revenue of C$9.05 billion for the quarter, compared to analysts’ expectations of C$8.41 billion. As a group, sell-side analysts anticipate that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 59.26%.

Insider Transactions at Canadian Natural Resources

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 stock was sold at an average price of C$47.51, for a total value of C$202,966.99. Company insiders own 4.26% of the company’s stock.

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).