TD Securities Boosts Canadian Natural Resources (NYSE:CNQ) Price Target to C$69.00

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price target upped by TD Securities from C$63.00 to C$69.00 in a research note issued to investors on Wednesday morning, The Fly reports.

Several other analysts have also recently commented on CNQ. Bank of America started coverage on shares of Canadian Natural Resources in a research note on Monday, January 10th. They issued a buy rating and a $54.00 target price for the company. Scotiabank raised their price objective on shares of Canadian Natural Resources from C$52.00 to C$60.00 and gave the company an outperform rating in a research note on Thursday, October 14th. Credit Suisse Group raised their price objective on shares of Canadian Natural Resources from C$53.00 to C$59.00 and gave the company a neutral rating in a research note on Monday, October 18th. TheStreet upgraded shares of Canadian Natural Resources from a c+ rating to a b- rating in a research note on Tuesday, October 12th. Finally, Morgan Stanley assumed coverage on shares of Canadian Natural Resources in a research note on Thursday, October 7th. They issued an equal weight rating and a $53.00 price objective for the company. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of Buy and an average target price of $57.59.

CNQ stock opened at $51.94 on Wednesday. Canadian Natural Resources has a one year low of $22.40 and a one year high of $52.17. The stock has a market capitalization of $61.03 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 0.91. The company has a fifty day moving average of $42.46 and a 200-day moving average of $38.15.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last released its earnings results on Thursday, November 4th. The oil and gas producer reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.21. Canadian Natural Resources had a net margin of 21.13% and a return on equity of 14.56%. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.30 billion. Equities analysts forecast that Canadian Natural Resources will post 4.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 5th. Shareholders of record on Friday, December 10th were issued a dividend of $0.4731 per share. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.37. This represents a $1.89 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, December 9th. Canadian Natural Resources’s dividend payout ratio (DPR) is 46.70%.

Large investors have recently bought and sold shares of the business. JJJ Advisors Inc. increased its holdings in Canadian Natural Resources by 36,406.0% during the 3rd quarter. JJJ Advisors Inc. now owns 120,835 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 120,504 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Canadian Natural Resources during the second quarter worth about $41,000. Cordasco Financial Network grew its holdings in shares of Canadian Natural Resources by 32.2% during the third quarter. Cordasco Financial Network now owns 1,190 shares of the oil and gas producer’s stock worth $43,000 after buying an additional 290 shares in the last quarter. Sittner & Nelson LLC purchased a new stake in shares of Canadian Natural Resources during the third quarter worth about $55,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Canadian Natural Resources during the third quarter worth about $73,000. Hedge funds and other institutional investors own 68.35% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading; Midstream & Refining; and Exploration & Production.

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