Canadian Natural Resources Limited (TSE:CNQ) Receives C$71.94 Average Target Price from Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$71.94.

A number of analysts have recently weighed in on the stock. Raymond James increased their target price on shares of Canadian Natural Resources from C$50.00 to C$51.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on Canadian Natural Resources from C$48.00 to C$50.00 in a report on Monday, December 9th. CIBC boosted their target price on Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. BMO Capital Markets dropped their price target on Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$56.00 to C$59.00 in a research report on Tuesday, October 8th.

Insiders Place Their Bets

In other news, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. Also, Director Stephen W. Laut sold 6,400 shares of the 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. Over the last three months, insiders have sold 16,422 shares of company stock valued at $785,328. 4.26% of the stock is currently owned by corporate insiders.

Canadian Natural Resources Trading Down 0.8 %

Shares of CNQ opened at C$42.48 on Tuesday. The stock has a market capitalization of C$90.48 billion, a P/E ratio of 12.10, a PEG ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The firm has a fifty day simple moving average of C$47.41 and a two-hundred day simple moving average of C$50.82.

Canadian Natural Resources Dividend Announcement

The business also recently disclosed 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. This represents a $2.10 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 60.97%.

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).