Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) PT at C$74.31

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$74.31.

Several equities research analysts recently issued reports on the company. 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 report on Tuesday, October 8th. CIBC lifted their price target on Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price target on Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating and raised their price objective for the company from C$56.00 to C$59.00 in a report on Tuesday, October 8th. Finally, Jefferies Financial Group upped their target price on shares of Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th.

Insiders Place Their Bets

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s 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, Director Stephen W. Laut sold 6,400 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of C$47.04, for a total transaction of C$301,056.00. Insiders have sold 16,422 shares of company stock valued at $785,328 over the last ninety days. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Up 0.8 %

Shares of TSE CNQ opened at C$48.71 on Friday. The firm has a market cap of C$103.75 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company’s 50-day simple moving average is C$47.44 and its 200-day simple moving average is C$57.92. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 52-week low of C$40.02 and a 52-week high of C$56.49.

Canadian Natural Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.31%. The ex-dividend date is Friday, December 13th. Canadian Natural Resources’s payout ratio is currently 60.97%.

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).