TD Securities Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$60.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price hoisted by TD Securities from C$49.00 to C$60.00 in a report released on Friday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

CNQ has been the topic of a number of other reports. Scotiabank cut their target price on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a research report on Tuesday, June 11th. Desjardins raised their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a hold rating in a research note on Friday. National Bankshares lifted their target price on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the stock a sector perform rating in a report on Friday, April 19th. Stifel Nicolaus increased their price target on Canadian Natural Resources from C$110.00 to C$126.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Finally, UBS Group lifted their price objective on Canadian Natural Resources from C$113.00 to C$124.00 in a research note on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of Hold and a consensus target price of C$90.88.

Canadian Natural Resources Trading Down 4.6 %

CNQ stock opened at C$46.25 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 31.83. Canadian Natural Resources has a twelve month low of C$38.90 and a twelve month high of C$56.49. The company has a market cap 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 business has a fifty day moving average of C$59.92 and a 200-day moving average of C$84.23.

Canadian Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.525 per share. The ex-dividend date is Friday, September 13th. This represents a $2.10 annualized dividend and a yield of 4.54%. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 58.65%.

Insider Buying and Selling at Canadian Natural Resources

In related news, Senior Officer Victor Clinton Darel sold 2,252 shares of the firm’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. In other Canadian Natural Resources news, Senior Officer Victor Clinton Darel sold 2,252 shares of the company’s stock in a transaction that occurred on Monday, May 27th. The stock was sold at an average price of C$104.80, for a total transaction of C$236,012.98. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$48.43, for a total transaction of C$181,612.50. Over the last quarter, insiders have sold 6,003 shares of company stock valued at $417,729. 2.21% of the stock is currently owned by corporate insiders.

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).