Canadian Natural Resources (TSE:CNQ) Price Target Lowered to C$57.00 at Scotiabank

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

CNQ has been the subject of a number of other reports. ATB Capital boosted their target price on shares of Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an outperform rating in a research note on Wednesday, March 20th. CIBC boosted their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Raymond James set a C$97.00 target price on shares of Canadian Natural Resources and gave the company a market perform rating in a research note on Wednesday, May 29th. Stifel Nicolaus upped their price objective on Canadian Natural Resources from C$110.00 to C$126.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Finally, TD Securities upped their price objective on Canadian Natural Resources from C$112.00 to C$117.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$104.88.

Get Our Latest Stock Analysis on Canadian Natural Resources

Canadian Natural Resources Price Performance

Shares of CNQ opened at C$46.62 on Tuesday. The firm has a market cap of C$49.88 billion, a PE ratio of 6.84, a P/E/G ratio of 0.53 and a beta of 1.97. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 31.83. The firm has a fifty day simple moving average of C$99.99 and a two-hundred day simple moving average of C$93.65. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$56.49.

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

Canadian Natural Resources Dividend Announcement

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

Insider Buying and Selling

In related news, Senior Officer Erin Louise Lunn sold 3,664 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total value of C$130,419.35. In related news, Director Stephen W. Laut acquired 414 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average price of C$105.70 per share, with a total value of C$43,760.71. Also, Senior Officer Erin Louise Lunn sold 3,664 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total transaction of C$130,419.35. In the last quarter, insiders sold 55,917 shares of company stock valued at $5,411,630. Company insiders own 2.21% of the company’s stock.

About Canadian Natural Resources

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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).

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