Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) Price Target at C$104.88

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$104.88.

A number of research analysts recently commented on the company. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and upped their target price for the company from C$104.00 to C$110.00 in a research note on Tuesday, April 23rd. UBS Group upped their target price on shares of Canadian Natural Resources from C$113.00 to C$124.00 in a research note on Tuesday, April 9th. Scotiabank cut their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. CIBC lifted their price objective on Canadian Natural Resources from C$105.00 to C$115.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, ATB Capital increased their target price on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$48.83 on Tuesday. The company has a debt-to-equity ratio of 31.83, a quick ratio of 0.54 and a current ratio of 0.88. The firm’s 50-day moving average is C$90.15 and its 200-day moving average is C$91.41. Canadian Natural Resources has a 52-week low of C$35.78 and a 52-week high of C$56.49. The company has a market cap of C$52.25 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.53 and a beta of 1.97.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 2nd. The company reported C$1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.40 by C($0.03). Canadian Natural Resources had a net margin of 20.86% and a return on equity of 19.01%. The firm had revenue of C$8.24 billion for the quarter, compared to the consensus estimate of C$8.17 billion. Equities research analysts anticipate that Canadian Natural Resources will post 6.8572356 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $1.05 per share. The ex-dividend date is Monday, June 17th. This represents a $4.20 annualized dividend and a yield of 8.60%. Canadian Natural Resources’s dividend payout ratio (DPR) is 58.65%.

Insiders Place Their Bets

In related news, Director Stephen W. Laut bought 414 shares of Canadian Natural Resources stock in a transaction dated Tuesday, April 2nd. The shares were bought at an average cost of C$105.70 per share, for a total transaction of C$43,760.71. In related news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. Also, Director Stephen W. Laut acquired 414 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was purchased at an average price of C$105.70 per share, with a total value of C$43,760.71. Insiders have sold a total of 12,667 shares of company stock valued at $880,579 in the last 90 days. 2.21% of the stock is currently owned by 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).