Royal Bank of Canada Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$62.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price boosted by Royal Bank of Canada from C$60.00 to C$62.00 in a report released on Friday, BayStreet.CA reports.

Several other brokerages have also recently commented on CNQ. Raymond James decreased their price target on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating for the company in a research report on Wednesday, June 12th. Evercore raised their price target on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday, April 8th. Desjardins raised their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a hold rating in a research report on Friday. Wolfe Research raised shares of Canadian Natural Resources to a hold rating in a research report on Thursday, July 18th. Finally, TD Securities lifted their price objective on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a buy rating in a research report on Friday. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of Hold and a consensus target price of C$90.88.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$46.25 on Friday. The company has a debt-to-equity ratio of 31.83, a quick ratio of 0.54 and a current ratio of 0.88. The stock has a market capitalization of C$49.49 billion, a P/E ratio of 6.78, a PEG ratio of 0.53 and a beta of 1.97. The company has a 50 day moving average price of C$59.92 and a 200 day moving average price of C$84.24. Canadian Natural Resources has a fifty-two week low of C$38.90 and a fifty-two week high of C$56.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 2nd. The company reported C$1.37 EPS for the quarter, missing the consensus estimate of C$1.40 by C($0.03). Canadian Natural Resources had a net margin of 20.86% and a return on equity of 19.01%. The business had revenue of C$8.24 billion during the quarter, compared to analysts’ expectations of C$8.17 billion. Equities research analysts forecast that Canadian Natural Resources will post 6.8572356 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be given a $0.525 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.10 dividend on an annualized basis and a yield of 4.54%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 58.65%.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of the business’s stock in a transaction on Monday, May 27th. The shares were sold at an average price of C$104.80, for a total transaction of C$236,012.98. Insiders sold a total of 6,003 shares of company stock valued at $417,729 over the last ninety days. Insiders own 2.21% 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).