Canadian Natural Resources (TSE:CNQ) PT Lowered to C$59.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price reduced by Royal Bank of Canada from C$62.00 to C$59.00 in a research report released on Tuesday morning, BayStreet.CA reports.

Other analysts have also issued reports about the company. Wolfe Research raised Canadian Natural Resources to a hold rating in a research report on Thursday, July 18th. Scotiabank decreased their target price on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating for the company in a research report on Tuesday, June 11th. Jefferies Financial Group decreased their target price on Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating for the company in a research report on Monday, September 16th. TD Securities boosted their target price on Canadian Natural Resources from C$49.00 to C$60.00 and gave the company a buy rating in a research report on Friday, August 2nd. Finally, Desjardins lifted their price target on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a hold rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of C$90.31.

Canadian Natural Resources Stock Performance

CNQ stock opened at C$45.25 on Tuesday. The stock has a 50-day moving average price of C$47.49 and a 200-day moving average price of C$75.16. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The firm has a market cap of C$96.38 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. As a group, equities research analysts expect that Canadian Natural Resources will post 3.5601888 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be issued a $0.525 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.10 annualized dividend and a dividend yield of 4.64%. Canadian Natural Resources’s payout ratio is currently 59.26%.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. Insiders own 4.25% of the company’s stock.

Canadian Natural Resources Company Profile

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).