Canadian Natural Resources (TSE:CNQ – Free Report) (NYSE:CNQ) had its price target cut by Royal Bank of Canada from C$62.00 to C$59.00 in a research note published on Tuesday, BayStreet.CA reports.
Several other research analysts also recently commented on the company. Raymond James decreased their price objective on Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating on the stock in a report on Wednesday, June 12th. Jefferies Financial Group decreased their price target on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating on the stock in a research note on Monday. TD Securities increased their price objective on Canadian Natural Resources from C$49.00 to C$60.00 and gave the company a buy rating in a research note on Friday, August 2nd. Desjardins lifted their target price on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Finally, Wolfe Research upgraded shares of Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of C$90.31.
Get Our Latest Stock Analysis on CNQ
Canadian Natural Resources Price Performance
Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last announced its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The company had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. As a group, equities analysts anticipate that Canadian Natural Resources will post 4.2311277 EPS for the current fiscal year.
Canadian Natural Resources Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio is presently 59.09%.
Insider Buying and Selling at Canadian Natural Resources
In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$48.43, for a total transaction of C$181,612.50. 4.24% 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).
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