Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$115.00 at CIBC

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price upped by CIBC from C$105.00 to C$115.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also issued reports on CNQ. BMO Capital Markets increased their price objective on Canadian Natural Resources from C$110.00 to C$115.00 in a research note on Thursday, March 28th. Jefferies Financial Group increased their target price on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a hold rating in a research report on Friday, April 12th. Desjardins reduced their price target on shares of Canadian Natural Resources from C$105.00 to C$97.00 and set a buy rating on the stock in a research report on Tuesday, January 23rd. Scotiabank raised their price objective on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the stock a sector perform rating in a report on Friday, March 1st. Finally, ATB Capital boosted their target price on Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of C$109.07.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$105.17 on Monday. The firm’s 50-day moving average is C$98.90 and its 200-day moving average is C$91.39. The company has a market cap of C$112.53 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.53 and a beta of 1.98. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96. Canadian Natural Resources has a 52-week low of C$69.83 and a 52-week high of C$112.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of C$9.04 billion. Equities research analysts anticipate that Canadian Natural Resources will post 7.6092114 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. Canadian Natural Resources’s dividend payout ratio is 51.54%.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. In other news, Senior Officer Trevor Wagil sold 1,126 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of C$86.33, for a total value of C$97,204.88. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of Canadian Natural Resources stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. Insiders have sold a total of 332,363 shares of company stock worth $32,567,851 over the last 90 days. Insiders own 2.20% of the company’s stock.

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).