National Bank Financial Trims Canadian Natural Resources (NYSE:CNQ) Target Price to C$74.00

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its price target decreased by National Bank Financial from C$76.00 to C$74.00 in a research report sent to investors on Wednesday, The Fly reports.

CNQ has been the subject of a number of other reports. Scotiabank raised their target price on Canadian Natural Resources from C$52.00 to C$60.00 and gave the company an outperform rating in a research note on Thursday, October 14th. TD Securities lifted their price objective on Canadian Natural Resources from C$63.00 to C$69.00 in a research report on Wednesday. TheStreet upgraded Canadian Natural Resources from a c+ rating to a b- rating in a research report on Tuesday, October 12th. Morgan Stanley initiated coverage on Canadian Natural Resources in a research report on Thursday, October 7th. They issued an equal weight rating and a $53.00 price objective for the company. Finally, Credit Suisse Group lifted their price objective on Canadian Natural Resources from C$53.00 to C$59.00 and gave the stock a neutral rating in a research report on Monday, October 18th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and an average price target of $57.59.

Shares of NYSE:CNQ opened at $51.94 on Wednesday. Canadian Natural Resources has a twelve month low of $22.40 and a twelve month high of $52.17. The firm has a market cap of $61.03 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.72 and a current ratio of 0.91. The business has a fifty day moving average of $42.46 and a 200-day moving average of $38.15.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last announced its earnings results on Thursday, November 4th. The oil and gas producer reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.21. Canadian Natural Resources had a return on equity of 14.56% and a net margin of 21.13%. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.30 billion. On average, analysts anticipate that Canadian Natural Resources will post 4.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 5th. Shareholders of record on Friday, December 10th were issued a dividend of $0.4731 per share. The ex-dividend date was Thursday, December 9th. This represents a $1.89 dividend on an annualized basis and a yield of 3.64%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.37. Canadian Natural Resources’s dividend payout ratio (DPR) is 46.70%.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in shares of Canadian Natural Resources during the 2nd quarter valued at about $41,000. Cordasco Financial Network lifted its holdings in shares of Canadian Natural Resources by 32.2% during the 3rd quarter. Cordasco Financial Network now owns 1,190 shares of the oil and gas producer’s stock valued at $43,000 after purchasing an additional 290 shares in the last quarter. Sittner & Nelson LLC bought a new position in shares of Canadian Natural Resources during the 3rd quarter valued at about $55,000. First Horizon Advisors Inc. lifted its holdings in shares of Canadian Natural Resources by 361.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,577 shares of the oil and gas producer’s stock valued at $176,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new position in shares of Canadian Natural Resources during the 3rd quarter valued at about $73,000. Hedge funds and other institutional investors own 68.35% of the company’s stock.

About Canadian Natural Resources

Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading; Midstream & Refining; and Exploration & Production.

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