Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, Gerdes Energy Research Analyst Says

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price lifted by Gerdes Energy Research from C$53.00 to C$55.00 in a research note released on Friday morning, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on the stock. CIBC upped their price target on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. TD Securities boosted their price objective on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on Canadian Natural Resources from C$59.00 to C$62.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, ATB Capital boosted their price target on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$74.31.

Canadian Natural Resources Stock Up 0.7 %

Shares of TSE:CNQ opened at C$47.63 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 stock has a fifty day simple moving average of C$47.35 and a two-hundred day simple moving average of C$63.89. Canadian Natural Resources has a 12-month low of C$40.02 and a 12-month high of C$56.49. The stock has a market capitalization of C$101.45 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.53 and a beta of 1.89.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 dividend on an annualized basis and a yield of 4.41%. Canadian Natural Resources’s dividend payout ratio is currently 60.97%.

Insider Transactions at Canadian Natural Resources

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

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).