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

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price hoisted by CIBC from C$105.00 to C$115.00 in a research report sent to investors on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CNQ. Scotiabank lifted their price target on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the company a sector perform rating in a research report on Friday, March 1st. TD Securities lifted their price target on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the company a buy rating in a research report on Friday, March 1st. National Bankshares boosted their target price on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the stock a sector perform rating in a research report on Friday, April 19th. Desjardins reduced their target price on shares of Canadian Natural Resources from C$105.00 to C$97.00 and set a buy rating on the stock in a research report on Tuesday, January 23rd. Finally, UBS Group boosted their target price on shares of Canadian Natural Resources from C$113.00 to C$124.00 in a research report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of C$111.00.

Canadian Natural Resources Trading Up 0.2 %

Shares of CNQ stock opened at C$105.43 on Monday. The stock has a market cap of C$112.81 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01. Canadian Natural Resources has a fifty-two week low of C$69.83 and a fifty-two week high of C$112.99. The firm’s 50 day moving average price is C$99.87 and its two-hundred day moving average price is C$91.64.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.20. The firm had revenue of C$9.55 billion for the quarter, compared to analysts’ expectations of C$9.04 billion. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. On average, analysts anticipate that Canadian Natural Resources will post 7.6092114 EPS for the current year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 3.98%. Canadian Natural Resources’s dividend payout ratio is currently 51.54%.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 1,126 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total transaction of C$97,204.88. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total transaction of C$332,430.00. Insiders have sold 332,363 shares of company stock valued at $32,567,851 over the last ninety days. Corporate insiders own 2.20% 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).