Scotiabank Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$57.00

Canadian Natural Resources (TSE:CNQFree Report) (NYSE:CNQ) had its price objective reduced by Scotiabank from C$114.00 to C$57.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other equities research analysts also recently issued reports on the stock. TD Securities raised their target price on shares of Canadian Natural Resources from C$112.00 to C$117.00 and gave the company a buy rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. increased their price target on Canadian Natural Resources from C$102.00 to C$106.00 in a research note on Monday, March 4th. Desjardins downgraded Canadian Natural Resources from a buy rating to a hold rating and raised their price target for the company from C$104.00 to C$110.00 in a report on Tuesday, April 23rd. ATB Capital upped their price objective on shares of Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an outperform rating in a report on Wednesday, March 20th. Finally, Jefferies Financial Group raised their target price on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a hold rating in a research note on Friday, April 12th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of C$104.88.

Check Out Our Latest Stock Analysis on Canadian Natural Resources

Canadian Natural Resources Stock Down 3.4 %

TSE:CNQ opened at C$46.87 on Tuesday. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$56.49. The firm has a market capitalization of C$50.15 billion, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 0.53 and a beta of 1.97. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 31.83. The stock’s 50 day moving average price is C$101.26 and its two-hundred day moving average price is C$93.93.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last issued its earnings results on Thursday, May 2nd. The company reported C$1.37 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.40 by C($0.03). Canadian Natural Resources had a return on equity of 19.01% and a net margin of 20.86%. The firm had revenue of C$8.24 billion for the quarter, compared to analyst estimates of C$8.17 billion. Equities research analysts expect that Canadian Natural Resources will post 6.8572356 earnings per share for the current fiscal year.

Canadian Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 8.96%. Canadian Natural Resources’s payout ratio is 58.65%.

Insider Buying and Selling

In related news, Senior Officer Timothy Shawn Mckay sold 30,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of C$99.36, for a total transaction of C$2,980,797.00. In other Canadian Natural Resources news, Senior Officer Timothy Shawn Mckay sold 30,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of C$99.36, for a total transaction of C$2,980,797.00. Also, Senior Officer Victor Clinton Darel sold 2,252 shares of the firm’s stock in a transaction on Monday, May 27th. The shares were sold at an average price of C$104.80, for a total value of C$236,012.98. Over the last quarter, insiders have sold 55,917 shares of company stock worth $5,411,630. Company insiders own 2.21% of the company’s stock.

About Canadian Natural Resources

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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).

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