Royal Bank of Canada Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

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

Other equities research analysts have also recently issued reports about the company. TD Securities raised their target price on Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Raymond James lifted their price objective on shares of 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. CIBC upped their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research report on Wednesday, October 9th. ATB Capital lifted their price target on Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their price objective on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of C$74.31.

Canadian Natural Resources Stock Down 0.1 %

CNQ stock opened at C$47.28 on Friday. The firm has a fifty day moving average price of C$47.36 and a two-hundred day moving average price of C$64.00. 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 has a 1-year low of C$40.02 and a 1-year high of C$56.49. The firm has a market cap 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.

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 $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s dividend payout ratio is presently 60.97%.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was 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 company’s stock in a transaction dated Thursday, October 3rd. The stock was 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 stock in a transaction 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. 4.26% of the stock is currently owned by corporate 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).