National Bankshares Raises Canadian Natural Resources (TSE:CNQ) Price Target to C$120.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective boosted by National Bankshares from C$94.00 to C$120.00 in a research note issued to investors on Friday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a research note on Monday, March 4th. Desjardins cut their target price on Canadian Natural Resources from C$105.00 to C$97.00 and set a buy rating for the company in a research report on Tuesday, January 23rd. TD Securities upped their price target on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a buy rating in a report on Friday, March 1st. Evercore upped their price objective on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday, April 8th. Finally, Jefferies Financial Group upped their target price on Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a hold rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$108.40.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$105.31 on Friday. The business’s fifty day moving average is C$98.44 and its two-hundred day moving average is C$91.24. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96. The firm has a market cap of C$112.68 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a 52 week low of C$69.83 and a 52 week high of C$112.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. The business had revenue of C$9.55 billion during the quarter, compared to the consensus estimate of C$9.04 billion. Equities research analysts forecast that Canadian Natural Resources will post 7.6092114 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $1.05 per share. The ex-dividend date 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 dividend yield of 3.99%. Canadian Natural Resources’s payout ratio is 51.54%.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Erin Louise Lunn sold 3,664 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total transaction of C$130,419.35. In other news, Senior Officer Calvin John Bast sold 3,750 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$97.62, for a total value of C$366,058.88. Also, Senior Officer Erin Louise Lunn sold 3,664 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total transaction of C$130,419.35. In the last quarter, insiders sold 332,363 shares of company stock valued at $32,567,851. Corporate insiders own 2.20% of the company’s stock.

About Canadian Natural Resources

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).