Canadian Natural Resources (TSE:CNQ) Given New C$120.00 Price Target at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price lifted by Royal Bank of Canada from C$100.00 to C$120.00 in a report released on Tuesday morning, BayStreet.CA reports.

Other analysts have also recently issued research reports about the stock. CIBC increased their price target on shares of Canadian Natural Resources from C$95.00 to C$105.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Desjardins lowered 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. Evercore raised their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday. BMO Capital Markets lifted their price objective on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research report on Thursday, March 28th. Finally, Scotiabank raised their target price on Canadian Natural Resources from C$90.00 to C$100.00 and gave the company a sector perform rating in a report on Friday, March 1st. Five 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, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$105.73.

Canadian Natural Resources Stock Up 1.2 %

TSE:CNQ opened at C$110.99 on Tuesday. The company has a market cap of C$118.76 billion, a PE ratio of 14.86, a P/E/G ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a twelve month low of C$69.83 and a twelve month high of C$111.04. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. The company’s 50 day moving average is C$94.36 and its two-hundred day moving average is C$90.04.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.14 by C$0.20. The firm had revenue of C$9.55 billion during 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%. Analysts anticipate that Canadian Natural Resources will post 7.4656696 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.20 dividend on an annualized basis and a yield of 3.78%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. Canadian Natural Resources’s dividend payout ratio (DPR) is 51.54%.

Insider Buying and Selling at Canadian Natural Resources

In related news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. In other Canadian Natural Resources news, Senior Officer Erin Louise Lunn sold 3,664 shares of Canadian Natural Resources stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of C$35.59, for a total transaction of C$130,419.35. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. Insiders have sold 334,663 shares of company stock valued at $32,771,378 in the last 90 days. 2.21% of the stock is currently owned by insiders.

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).