Insider Selling: Canadian Natural Resources Limited (TSE:CNQ) Director Sells 121,832 Shares of Stock

Canadian Natural Resources Limited (TSE:CNQGet Rating) (NYSE:CNQ) Director Norman Murray Edwards sold 121,832 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of C$84.23, for a total transaction of C$10,262,274.86. Following the completion of the sale, the director now directly owns 21,381,798 shares in the company, valued at approximately C$1,801,052,990.93.

Shares of CNQ traded up C$0.92 during mid-day trading on Friday, hitting C$84.99. The company’s stock had a trading volume of 3,163,668 shares, compared to its average volume of 5,869,877. The firm has a 50-day moving average price of C$80.13 and a 200 day moving average price of C$67.88. The stock has a market capitalization of C$98.11 billion and a price-to-earnings ratio of 10.72. The company has a debt-to-equity ratio of 40.17, a current ratio of 0.75 and a quick ratio of 0.54. Canadian Natural Resources Limited has a fifty-two week low of C$37.82 and a fifty-two week high of C$88.18.

Canadian Natural Resources (TSE:CNQGet Rating) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, March 3rd. The company reported C$2.21 EPS for the quarter, topping the consensus estimate of C$2.11 by C$0.10. The company had revenue of C$9.21 billion for the quarter, compared to analyst estimates of C$8.83 billion. As a group, equities analysts anticipate that Canadian Natural Resources Limited will post 9.0800001 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, June 16th. Canadian Natural Resources’s payout ratio is 28.73%.

CNQ has been the topic of a number of recent analyst reports. CSFB increased their price target on shares of Canadian Natural Resources from C$85.00 to C$93.00 in a research note on Monday, May 9th. Scotiabank raised their price target on shares of Canadian Natural Resources from C$64.00 to C$80.00 in a report on Tuesday, March 8th. JPMorgan Chase & Co. raised their price objective on shares of Canadian Natural Resources from C$66.00 to C$67.00 in a report on Friday, March 4th. BMO Capital Markets raised their price objective on shares of Canadian Natural Resources from C$92.00 to C$95.00 in a report on Friday, May 6th. Finally, Stifel Nicolaus raised their price objective on shares of Canadian Natural Resources from C$100.00 to C$111.00 in a report on Friday, May 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$77.27.

About Canadian Natural Resources (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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