Jefferies Financial Group Raises Canadian Natural Resources (TSE:CNQ) Price Target to C$57.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by Jefferies Financial Group from C$49.00 to C$57.00 in a research report released on Friday, BayStreet.CA reports.

Other analysts have also issued research reports about the company. BMO Capital Markets upped their target price on Canadian Natural Resources from C$57.50 to C$60.00 and gave the company an outperform rating in a report on Tuesday, October 8th. Wolfe Research upgraded Canadian Natural Resources to a hold rating in a research report on Thursday, July 18th. Desjardins upgraded Canadian Natural Resources from a hold rating to a buy rating and upped their price objective for the company from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. Raymond James upped their price objective on Canadian Natural Resources from C$48.00 to C$51.00 and gave the company a market perform rating in a research report on Tuesday, October 8th. Finally, National Bankshares upped their price objective on Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a sector perform rating in a research report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of C$74.13.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$51.71 on Friday. Canadian Natural Resources has a 12 month low of C$40.02 and a 12 month high of C$56.49. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The business has a 50 day simple moving average of C$47.24 and a 200-day simple moving average of C$69.41. The stock has a market capitalization of C$110.14 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released 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 return on equity of 19.65% and a net margin of 20.88%. The business 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 earnings per share for the current year.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 annualized dividend and a dividend yield of 4.06%. Canadian Natural Resources’s dividend payout ratio is currently 59.26%.

Insider Buying and Selling

In related news, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction 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. In other news, Senior Officer Trevor Wagil sold 4,272 shares of the firm’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. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. 4.26% of the stock is owned by corporate 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).