Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$60.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price raised by ATB Capital from C$58.00 to C$60.00 in a research report report published on Tuesday morning, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

CNQ has been the subject of several other reports. Jefferies Financial Group lowered their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating for the company in a research report on Monday, September 16th. TD Securities raised their target price on Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a buy rating in a research report on Tuesday. National Bankshares raised their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a sector perform rating in a research report on Tuesday. Gerdes Energy Research lifted their price objective on Canadian Natural Resources from C$52.00 to C$53.00 in a research report on Tuesday. Finally, BMO Capital Markets lifted their price objective on Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an outperform rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of Hold and an average price target of C$75.24.

Canadian Natural Resources Trading Up 2.7 %

Shares of CNQ stock opened at C$51.47 on Tuesday. The stock’s fifty day moving average price is C$47.13 and its two-hundred day moving average price is C$70.12. The company has a market cap of C$109.63 billion, a PE ratio of 14.61, a P/E/G ratio of 0.53 and a beta of 1.91. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. 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 (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The company had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Equities analysts predict that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

Canadian Natural Resources Announces Dividend

The business 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 4.08%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is currently 59.26%.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction dated Monday, October 7th. The shares were 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 Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. 4.26% 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).