Canadian Natural Resources (TSE:CNQ) Downgraded by Desjardins

Desjardins downgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a hold rating in a research report report published on Tuesday, BayStreet.CA reports. They currently have C$110.00 price objective on the stock, up from their previous price objective of C$104.00.

A number of other analysts have also recently issued reports on CNQ. National Bankshares increased their price objective on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the stock a sector perform rating in a research note on Friday, April 19th. Royal Bank of Canada increased their price target on Canadian Natural Resources from C$100.00 to C$120.00 in a research note on Tuesday, April 9th. Jefferies Financial Group boosted their price objective on Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a hold rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on Canadian Natural Resources from C$102.00 to C$106.00 in a research report on Monday, March 4th. Finally, Stifel Nicolaus boosted their price target on Canadian Natural Resources from C$110.00 to C$126.00 and gave the stock a buy rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$111.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$105.26 on Tuesday. The firm has a market capitalization of C$112.63 billion, a P/E ratio of 14.09, a PEG ratio of 0.53 and a beta of 1.98. The company has a debt-to-equity ratio of 31.01, a current ratio of 0.96 and a quick ratio of 0.54. Canadian Natural Resources has a one year low of C$69.83 and a one year high of C$112.99. The business has a fifty day moving average of C$99.39 and a 200 day moving average of C$91.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.20. The firm had revenue of C$9.55 billion during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Canadian Natural Resources will post 7.6092114 EPS for the current year.

Canadian Natural Resources Increases Dividend

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

Insider Activity at Canadian Natural Resources

In related news, Director Stephen W. Laut bought 414 shares of Canadian Natural Resources stock in a transaction dated Tuesday, April 2nd. The shares were acquired at an average cost of C$105.70 per share, with a total value of C$43,760.71. In other news, Director Stephen W. Laut bought 414 shares of the stock in a transaction on Tuesday, April 2nd. The stock was acquired at an average cost of C$105.70 per share, for a total transaction of C$43,760.71. Also, Senior Officer Kyle Grayson Pisio sold 1,228 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of C$86.60, for a total value of C$106,344.80. Insiders sold 332,363 shares of company stock worth $32,567,851 in the last 90 days. 2.20% of the stock is owned by corporate 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).