Canadian Natural Resources Limited (TSE:CNQ) Given Consensus Recommendation of “Buy” by Analysts
Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been assigned a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$50.83.
CNQ has been the subject of a number of recent research reports. Barclays PLC decreased their price target on shares of Canadian Natural Resources Limited from C$52.00 to C$50.00 in a research note on Wednesday, April 19th. Royal Bank Of Canada restated a “top pick” rating and set a C$60.00 price target on shares of Canadian Natural Resources Limited in a research note on Friday, April 21st. TD Securities boosted their price target on shares of Canadian Natural Resources Limited from C$50.00 to C$54.00 and gave the company a “buy” rating in a research note on Monday, June 5th. CIBC decreased their price target on shares of Canadian Natural Resources Limited from C$55.00 to C$50.00 in a research note on Thursday, July 20th. Finally, National Bank Financial boosted their price target on shares of Canadian Natural Resources Limited from C$47.00 to C$49.00 and gave the company an “outperform” rating in a research note on Friday.
In related news, insider Allan E. Frankiw sold 1,500 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of C$43.38, for a total transaction of C$65,070.00. Also, insider Betty Yee sold 750 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of C$37.46, for a total transaction of C$28,095.00. In the last quarter, insiders sold 97,250 shares of company stock valued at $3,764,875.
Canadian Natural Resources Limited (TSE CNQ) traded up 1.85% on Friday, reaching $40.64. 2,106,690 shares of the company were exchanged. The stock has a market capitalization of $45.40 billion and a P/E ratio of 307.88. Canadian Natural Resources Limited has a 12-month low of $35.90 and a 12-month high of $46.74. The company’s 50-day moving average price is $37.62 and its 200-day moving average price is $40.51.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.71%.
Canadian Natural Resources Limited 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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