Canadian Natural Resources (TSE:CNQ) Upgraded at Desjardins

Desjardins upgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. Desjardins currently has C$59.00 price target on the stock, up from their previous price target of C$56.00.

Several other analysts have also issued reports on CNQ. TD Securities lifted their target price on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a buy rating in a research report on Tuesday. National Bankshares raised their price target on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a sector perform rating in a research note on Tuesday. Gerdes Energy Research lifted their target price on shares of Canadian Natural Resources from C$52.00 to C$53.00 in a research note on Tuesday. Raymond James reduced their target price on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating on the stock in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada lifted their target price on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the stock an outperform rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of C$75.24.

Canadian Natural Resources Stock Up 2.7 %

CNQ stock opened at C$51.47 on Tuesday. The firm has a market cap of C$109.63 billion, a PE ratio of 14.61, a P/E/G 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 fifty day moving average is C$47.13 and its 200 day moving average is C$70.12. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. On average, research analysts forecast that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Canadian Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 13th will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is currently 59.26%.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred 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 Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total transaction of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. Company 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).