BMO Capital Markets Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$115.00

Canadian Natural Resources (TSE:CNQFree Report) (NYSE:CNQ) had its price target lifted by BMO Capital Markets from C$110.00 to C$115.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

A number of other research firms have also issued reports on CNQ. National Bankshares boosted their price objective on Canadian Natural Resources from C$90.00 to C$94.00 and gave the company a sector perform rating in a research report on Friday, March 1st. CIBC boosted their price objective on Canadian Natural Resources from C$95.00 to C$105.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Jefferies Financial Group reduced their price objective on Canadian Natural Resources from C$98.00 to C$96.00 and set a hold rating for the company in a research report on Monday, December 18th. Royal Bank of Canada increased their price target on Canadian Natural Resources from C$94.00 to C$100.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Finally, 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of C$100.75.

Read Our Latest Stock Report on CNQ

Canadian Natural Resources Price Performance

Shares of CNQ opened at C$103.33 on Thursday. The firm has a market cap of C$110.56 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.53 and a beta of 1.98. The stock has a 50 day moving average of C$91.21 and a 200-day moving average of C$88.90. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. Canadian Natural Resources has a 52 week low of C$69.83 and a 52 week high of C$103.61.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last issued its earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, topping the consensus estimate 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 analyst estimates of C$9.04 billion. As a group, analysts forecast that Canadian Natural Resources will post 7.3588277 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be issued a $1.05 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $4.20 annualized dividend and a dividend yield of 4.06%. Canadian Natural Resources’s dividend payout ratio is 51.54%.

Insider Activity

In other news, Senior Officer Trevor Wagil sold 1,126 shares of the company’s stock in a transaction 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. In other news, Senior Officer Devin Craig Lowe sold 1,170 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$96.61, for a total transaction of C$113,033.70. Also, Senior Officer Trevor Wagil sold 1,126 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total value of C$97,204.88. Insiders sold a total of 647,999 shares of company stock worth $60,737,470 over the last 90 days. 2.21% of the stock is currently owned by company insiders.

Canadian Natural Resources Company Profile

(Get Free Report)

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).

Further Reading

Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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