Canadian Natural Resources Limited (TSE:CNQ) Receives C$111.47 Consensus Price Target from Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been given a consensus rating of “Moderate Buy” by the thirteen research firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$111.47.

A number of brokerages recently commented on CNQ. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and increased their price target for the company from C$104.00 to C$110.00 in a research note on Tuesday, April 23rd. Jefferies Financial Group boosted their price target on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. National Bankshares increased their price objective on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the company a “sector perform” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a report on Tuesday, April 9th. Finally, ATB Capital boosted their price objective on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th.

Canadian Natural Resources Trading Up 1.0 %

Shares of CNQ opened at C$105.96 on Monday. Canadian Natural Resources has a 1 year low of C$69.83 and a 1 year high of C$112.99. The company has a 50 day simple moving average of C$102.98 and a two-hundred day simple moving average of C$92.58. The company has a debt-to-equity ratio of 27.94, a current ratio of 0.88 and a quick ratio of 0.54. The firm has a market cap of C$113.38 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 20.86% and a return on equity of 19.01%. The company had revenue of C$9.55 billion for the quarter, compared to the consensus estimate of C$9.04 billion. On average, equities analysts expect that Canadian Natural Resources will post 7.2308782 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Monday, June 17th. Canadian Natural Resources’s payout ratio is 59.17%.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of Canadian Natural Resources stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. In other news, Senior Officer Calvin John Bast sold 3,750 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$97.62, for a total transaction of C$366,058.88. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total transaction of C$332,430.00. Insiders sold a total of 329,759 shares of company stock worth $32,343,744 over the last 90 days. Company insiders own 2.20% of the company’s stock.

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).