Canadian Natural Resources (TSE:CNQ) Given New C$57.00 Price Target at Scotiabank

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target cut by Scotiabank from C$114.00 to C$57.00 in a report published on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. National Bankshares upped their target price on 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. Jefferies Financial Group upped their target price on Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a hold rating in a report on Friday, April 12th. Evercore upped their target price on Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Raymond James set a C$97.00 target price on Canadian Natural Resources and gave the stock a market perform rating in a report on Wednesday, May 29th. Finally, Royal Bank of Canada upped their target price on Canadian Natural Resources from C$100.00 to C$120.00 in a report on Tuesday, April 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of C$104.88.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$46.62 on Tuesday. The company has a debt-to-equity ratio of 31.83, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$56.49. The stock has a market capitalization of C$49.88 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 0.53 and a beta of 1.97. The stock has a fifty day moving average of C$99.99 and a 200-day moving average of C$93.65.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C$1.37 EPS for the quarter, missing analysts’ consensus estimates of C$1.40 by C($0.03). Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%. The business had revenue of C$8.24 billion for the quarter, compared to analyst estimates of C$8.17 billion. On average, sell-side analysts expect that Canadian Natural Resources will post 6.8572356 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $1.05 per share. The ex-dividend date is Monday, June 17th. This represents a $4.20 annualized dividend and a dividend yield of 9.01%. Canadian Natural Resources’s payout ratio is 58.65%.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$100.29, for a total transaction of C$376,087.50. In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$100.29, for a total transaction of C$376,087.50. Also, Senior Officer Timothy Shawn Mckay sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of C$99.36, for a total value of C$2,980,797.00. Insiders have sold a total of 55,917 shares of company stock worth $5,411,630 in the last 90 days. Corporate 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).