Royal Bank of Canada Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$120.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target upped by Royal Bank of Canada from C$100.00 to C$120.00 in a research note published on Tuesday morning, BayStreet.CA reports.

Several other research analysts have also recently weighed in on CNQ. Desjardins reduced their price objective on Canadian Natural Resources from C$105.00 to C$97.00 and set a buy rating for the company in a research report on Tuesday, January 23rd. ATB Capital raised their price objective on Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an outperform rating in a research report on Wednesday, March 20th. Evercore raised their price objective on Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday. TD Securities increased their target price on Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a buy rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their price objective on 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 issued a buy rating to the stock. According to MarketBeat, Canadian Natural Resources currently has an average rating of Moderate Buy and a consensus price target of C$105.73.

Canadian Natural Resources Trading Up 1.2 %

CNQ stock opened at C$110.99 on Tuesday. The business has a fifty day moving average of C$94.36 and a 200-day moving average of C$90.04. The company has a market cap of C$118.76 billion, a P/E ratio of 14.86, a PEG ratio of 0.53 and a beta of 1.98. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01. Canadian Natural Resources has a twelve month low of C$69.83 and a twelve month high of C$111.04.

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

Canadian Natural Resources Increases Dividend

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

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Director Norman Murray Edwards sold 251,500 shares of Canadian Natural Resources stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$98.46, for a total transaction of C$24,762,187.00. In other Canadian Natural Resources news, Director Stephen W. Laut acquired 414 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average cost of C$105.70 per share, with a total value of C$43,760.71. Also, Director Norman Murray Edwards sold 251,500 shares of Canadian Natural Resources stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$98.46, for a total value of C$24,762,187.00. Insiders have sold a total of 334,663 shares of company stock valued at $32,771,378 in the last 90 days. 2.21% of the stock is 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).