Gerdes Energy Research Forecasts Strong Price Appreciation for Canadian Natural Resources (TSE:CNQ) Stock

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price hoisted by Gerdes Energy Research from C$53.00 to C$55.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

A number of other research analysts have also recently commented on CNQ. National Bankshares upped 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 report on Tuesday, October 8th. ATB Capital increased their price objective on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 18th. BMO Capital Markets upped their target price on Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Jefferies Financial Group raised their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a research note on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Natural Resources presently has an average rating of “Hold” and an average target price of C$74.31.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at C$47.63 on Friday. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The firm has a market capitalization of C$101.45 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The company’s 50-day moving average is C$47.35 and its 200 day moving average is C$63.89.

Canadian Natural Resources Dividend Announcement

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 paid a dividend of $0.525 per share. The ex-dividend date is Friday, December 13th. This represents a $2.10 annualized dividend and a yield of 4.41%. Canadian Natural Resources’s dividend payout ratio (DPR) is 60.97%.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total transaction of C$202,966.99. In other news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction 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 company’s 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. 4.26% of the stock is currently owned by company insiders.

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).