TD Securities Reiterates “C$58.00” Price Target for Canadian Natural Resources (TSE:CNQ)

TD Securities set a C$58.00 price objective on Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on CNQ. National Bankshares lifted their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 8th. 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. Gerdes Energy Research increased their price objective on Canadian Natural Resources from C$53.00 to C$55.00 in a report on Friday, November 1st. CIBC boosted their target price on Canadian Natural Resources from C$57.50 to C$59.00 in a report on Wednesday, October 9th. Finally, BMO Capital Markets upped their target price 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, October 8th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$74.31.

Canadian Natural Resources Price Performance

Shares of CNQ opened at C$46.64 on Tuesday. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. The firm has a market cap of C$99.34 billion, a PE ratio of 13.29, a PEG ratio of 0.53 and a beta of 1.89. The firm’s 50 day moving average price is C$47.85 and its 200 day moving average price is C$54.97. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49.

Canadian Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be issued a $0.525 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.10 annualized dividend and a yield of 4.50%. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.97%.

Insiders Place Their Bets

In other news, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$48.70, for a total transaction of C$97,405.40. Also, Director Stephen W. Laut sold 6,400 shares of the company’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. In the last quarter, insiders sold 16,422 shares of company stock worth $785,328. 4.26% of the stock is currently owned by company 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).