Canadian Natural Resources (TSE:CNQ) Given New C$48.00 Price Target at CIBC

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price trimmed by CIBC from C$49.00 to C$48.00 in a report released on Thursday morning, BayStreet.CA reports.

Several other equities analysts also recently issued reports on CNQ. UBS Group upgraded shares of to a neutral rating and upped their price objective for the company from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th. TD Securities upped their price objective on shares of Lightspeed POS from C$28.00 to C$29.00 and gave the company a buy rating in a report on Friday, May 31st. Royal Bank of Canada restated a buy rating and set a $2.50 price objective on shares of in a report on Thursday. Evercore downgraded shares of Suncor Energy from an outperform rating to an in-line rating and cut their price objective for the company from C$58.00 to C$54.00 in a report on Wednesday, April 3rd. Finally, National Bank Financial upped their price objective on shares of Vermilion Energy from C$35.00 to C$36.00 and gave the company an outperform rating in a report on Tuesday, July 16th. Eleven research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of C$48.12.

CNQ opened at C$34.05 on Thursday. Canadian Natural Resources has a 52-week low of C$30.11 and a 52-week high of C$47.93. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 69.97. The firm has a market capitalization of $40.54 billion and a P/E ratio of 13.91. The firm’s 50-day moving average is C$35.64.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.45 by C$0.20. The company had revenue of C$5.25 billion for the quarter, compared to analyst estimates of C$4.99 billion. On average, research analysts expect that Canadian Natural Resources will post 2.7499998 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 4.41%. The ex-dividend date was Thursday, June 13th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.34. Canadian Natural Resources’s dividend payout ratio is 56.37%.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets 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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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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