Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$63.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price upped by Royal Bank of Canada from C$62.00 to C$63.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Raymond James upped their price target on Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research report on Friday. Wolfe Research upgraded Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. BMO Capital Markets raised their target price on Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Gerdes Energy Research boosted their price target on shares of Canadian Natural Resources from C$53.00 to C$55.00 in a research report on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$74.31.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$47.28 on Friday. The company has a fifty day simple moving average of C$47.36 and a 200-day simple moving average of C$64.00. The firm has a market capitalization of C$100.71 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.53 and a beta of 1.89. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 52-week low of C$40.02 and a 52-week high of C$56.49.

Canadian Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.10 annualized dividend and a yield of 4.44%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.97%.

Insider Activity

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. In other news, Senior Officer Trevor Wagil sold 4,272 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total value of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. Corporate insiders own 4.26% 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).