Canadian Natural Resources (TSE:CNQ) Given New C$59.00 Price Target at Royal Bank of Canada

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

Other equities research analysts have also issued research reports about the stock. Raymond James decreased their price objective on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating for the company in a research note on Wednesday, June 12th. Jefferies Financial Group decreased their price objective on shares of Canadian Natural Resources from C$52.00 to C$49.00 and set a hold rating for the company in a research note on Monday. TD Securities increased their price objective on shares of 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 raised their price target 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, Scotiabank decreased their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating for the company in a research note on Tuesday, June 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of Hold and an average target price of C$90.31.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$44.68 on Tuesday. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The stock has a market cap of C$95.17 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.53 and a beta of 1.91. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. The firm’s 50-day simple moving average is C$47.72 and its 200 day simple moving average is C$75.95.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. As a group, research analysts anticipate that Canadian Natural Resources will post 4.2311277 earnings per share for the current fiscal year.

Canadian Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 4.70%. The ex-dividend date is Friday, September 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 59.09%.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’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. 4.24% of the stock is owned by insiders.

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).