Canadian Natural Resources (TSE:CNQ) Downgraded by Desjardins

Desjardins cut shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a hold rating in a report issued on Tuesday, BayStreet.CA reports. The firm currently has C$110.00 price objective on the stock, up from their previous price objective of C$104.00.

Several other brokerages also recently commented on CNQ. Jefferies Financial Group upped their price target on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a hold rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on shares of Canadian Natural Resources from C$102.00 to C$106.00 in a research report on Monday, March 4th. CIBC increased their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an outperform rating in a research report on Monday. Stifel Nicolaus increased their target price on shares of Canadian Natural Resources from C$110.00 to C$126.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Evercore raised their price target on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of Moderate Buy and an average price target of C$111.00.

Canadian Natural Resources Stock Up 0.2 %

Shares of TSE:CNQ opened at C$105.68 on Tuesday. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96. The company has a market cap of C$113.08 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a 52 week low of C$69.83 and a 52 week high of C$112.99. The firm has a 50 day simple moving average of C$100.29 and a 200 day simple moving average of C$91.74.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, beating the consensus estimate of C$2.14 by C$0.20. The business had revenue of C$9.55 billion during the quarter, compared to the consensus estimate of C$9.04 billion. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. As a group, research analysts expect that Canadian Natural Resources will post 7.6092114 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a $1.05 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 3.97%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 51.54%.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. In related news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. Also, Senior Officer Erin Louise Lunn sold 3,664 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total transaction of C$130,419.35. In the last three months, insiders have sold 331,237 shares of company stock worth $32,470,646. 2.20% of the stock is owned by 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).