Canadian Natural Resources Limited (CNQ) Given Consensus Recommendation of “Buy” by Analysts

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned an average rating of “Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$53.77.

CNQ has been the subject of a number of research reports. Barclays increased their target price on shares of Canadian Natural Resources from C$44.00 to C$55.00 in a report on Monday, January 29th. National Bank Financial increased their target price on shares of Canadian Natural Resources from C$52.00 to C$64.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Eight Capital set a C$60.00 target price on shares of Canadian Natural Resources and gave the stock a “buy” rating in a report on Thursday, January 11th. Wells Fargo increased their target price on shares of Canadian Natural Resources from C$52.00 to C$59.00 in a report on Thursday, January 11th. Finally, Royal Bank of Canada increased their target price on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “top pick” rating in a report on Friday, March 2nd.

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CNQ stock opened at C$42.17 on Wednesday. Canadian Natural Resources has a 12 month low of C$35.90 and a 12 month high of C$47.00.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, March 1st. The company reported C$0.38 EPS for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.01. The firm had revenue of C$5.01 billion during the quarter, compared to analysts’ expectations of C$4.57 billion. Canadian Natural Resources had a net margin of 7.90% and a return on equity of 5.04%.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 16th were issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, March 15th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.28.

In related news, insider Betty Yee sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of C$42.62, for a total value of C$42,620.00. Also, Director Norman Murray Edwards sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of C$46.17, for a total transaction of C$2,308,500.00. In the last quarter, insiders sold 68,625 shares of company stock valued at $3,143,190.

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Canadian Natural Resources Company Profile

Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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