Evercore Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$115.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective upped by Evercore from C$105.00 to C$115.00 in a report issued on Monday morning, BayStreet.CA reports.

CNQ has been the subject of several other research reports. Scotiabank increased their price target on Canadian Natural Resources from C$90.00 to C$100.00 and gave the stock a sector perform rating in a research note on Friday, March 1st. ATB Capital raised their price target on Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an outperform rating in a report on Wednesday, March 20th. Wells Fargo & Company lowered their price target on Canadian Natural Resources from C$95.00 to C$86.00 in a report on Thursday, December 14th. JPMorgan Chase & Co. raised their price objective on Canadian Natural Resources from C$102.00 to C$106.00 in a report on Monday, March 4th. Finally, Stifel Nicolaus lifted their price objective on Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of Moderate Buy and a consensus target price of C$105.73.

Canadian Natural Resources Stock Down 1.5 %

CNQ opened at C$110.96 on Monday. Canadian Natural Resources has a fifty-two week low of C$69.83 and a fifty-two week high of C$112.99. The company’s 50-day moving average is C$95.42 and its 200 day moving average is C$90.34. The company has a debt-to-equity ratio of 31.01, a current ratio of 0.96 and a quick ratio of 0.54. The firm has a market capitalization of C$118.73 billion, a P/E ratio of 14.85, a PEG ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.20. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. The company had revenue of C$9.55 billion during the quarter, compared to the consensus estimate of C$9.04 billion. Research analysts expect that Canadian Natural Resources will post 7.4656696 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $1.05 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.79%. Canadian Natural Resources’s dividend payout ratio is 51.54%.

Insider Transactions at Canadian Natural Resources

In related news, Senior Officer Trevor Wagil sold 1,126 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of C$86.33, for a total transaction of C$97,204.88. In related news, Director Norman Murray Edwards sold 251,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$98.46, for a total transaction of C$24,762,187.00. Also, Senior Officer Trevor Wagil sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of C$86.33, for a total value of C$97,204.88. Insiders sold a total of 334,663 shares of company stock valued at $32,771,378 over the last 90 days. Company insiders own 2.21% 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).