Canadian Natural Resources (TSE:CNQ) Upgraded by Gerdes Energy Research to “Buy” Rating

Gerdes Energy Research upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a neutral rating to a buy rating in a research note published on Monday morning,BayStreet.CA reports.

Other research analysts have also issued research reports about the company. National Bankshares increased their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. Raymond James upped their price target on Canadian Natural Resources from C$50.00 to C$51.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Desjardins raised Canadian Natural Resources from a “hold” rating to a “buy” rating and raised their price objective for the company from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a research report on Monday, December 9th. Finally, Jefferies Financial Group raised their price objective on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$71.94.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$43.95 on Monday. Canadian Natural Resources has a 1 year low of C$40.02 and a 1 year high of C$56.49. The stock has a market capitalization of C$93.61 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.53 and a beta of 1.89. The company’s 50-day moving average is C$47.78 and its 200 day moving average is C$51.75. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is currently 60.97%.

Insider Transactions at Canadian Natural Resources

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. Also, Director Stephen W. Laut sold 6,400 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of C$47.04, for a total value of C$301,056.00. Insiders sold 16,422 shares of company stock worth $785,328 over the last three months. 4.26% of the stock is currently owned by company 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).