Canadian Natural Resources (TSE:CNQ) Given Outperform Rating at Raymond James

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Raymond James reaffirmed their outperform rating on shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a report published on Friday morning, BayStreet.CA reports. The brokerage currently has a C$47.00 target price on the stock.

CNQ has been the topic of a number of other reports. UBS Group lowered their target price on shares of Canadian Natural Resources from C$59.00 to C$55.00 in a research note on Thursday, June 20th. TD Securities raised their target price on shares of Canadian Natural Resources from C$49.00 to C$50.00 and gave the company a buy rating in a research note on Friday, May 31st. JPMorgan Chase & Co. raised their target price on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a research note on Thursday, May 30th. Tudor Pickering & Holt reaffirmed a buy rating on shares of Canadian Natural Resources in a research note on Friday, June 7th. Finally, Goldman Sachs Group reaffirmed a neutral rating on shares of Canadian Natural Resources in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of C$48.18.

Shares of CNQ opened at C$31.51 on Friday. The company has a 50 day moving average of C$34.66. The stock has a market capitalization of $37.64 billion and a P/E ratio of 7.89. The company has a debt-to-equity ratio of 68.59, a current ratio of 0.59 and a quick ratio of 0.39. Canadian Natural Resources has a 1-year low of C$30.11 and a 1-year high of C$47.20.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, May 9th. The company reported C$0.65 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.45 by C$0.20. The company had revenue of C$5.25 billion during the quarter, compared to analysts’ expectations of C$4.99 billion. As a group, research analysts anticipate that Canadian Natural Resources will post 2.74 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, September 12th. Canadian Natural Resources’s payout ratio is currently 37.58%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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