Canadian Natural Resources (TSE:CNQ) Given New C$124.00 Price Target at UBS Group

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective increased by UBS Group from C$113.00 to C$124.00 in a report issued on Tuesday, BayStreet.CA reports.

Several other analysts have also issued reports on CNQ. Stifel Nicolaus increased their price target on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Jefferies Financial Group dropped their price objective on shares of Canadian Natural Resources from C$98.00 to C$96.00 and set a hold rating for the company in a research note on Monday, December 18th. Scotiabank increased their price objective on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the company a sector perform rating in a research note on Friday, March 1st. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from C$94.00 to C$100.00 and gave the company an outperform rating in a research note on Friday, March 1st. Finally, BMO Capital Markets increased their price objective on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research note on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources presently has an average rating of Moderate Buy and an average target price of C$105.73.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$110.99 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. The firm has a market capitalization of C$118.76 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.53 and a beta of 1.98. The firm’s 50 day simple moving average is C$94.36 and its 200 day simple moving average is C$90.04. Canadian Natural Resources has a 1 year low of C$69.83 and a 1 year high of C$111.04.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.14 by C$0.20. The business had revenue of C$9.55 billion for the quarter, compared to analyst estimates of C$9.04 billion. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. As a group, research analysts expect that Canadian Natural Resources will post 7.4656696 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.78%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 14th. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 51.54%.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. In other Canadian Natural Resources news, Director Stephen W. Laut acquired 414 shares of Canadian Natural Resources stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average cost of C$105.70 per share, for a total transaction of C$43,760.71. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of Canadian Natural Resources stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total transaction of C$332,430.00. Over the last ninety days, insiders sold 334,663 shares of company stock worth $32,771,378. 2.21% 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).