Canadian Natural Resources (CNQ) Price Target Raised to C$54.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lifted by Canaccord Genuity from C$53.00 to C$54.00 in a research note released on Monday.

CNQ has been the subject of a number of other research reports. Barclays boosted their price objective on shares of Canadian Natural Resources from C$44.00 to C$55.00 in a report on Monday, January 29th. Wells Fargo boosted their price objective on shares of Canadian Natural Resources from C$43.00 to C$44.00 in a report on Thursday, April 12th. National Bank Financial decreased their price objective on shares of Canadian Natural Resources from C$60.00 to C$59.00 and set an outperform rating for the company in a report on Friday, May 4th. Royal Bank of Canada boosted their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a top pick rating in a report on Friday, March 2nd. Finally, Raymond James boosted their price objective on shares of Canadian Natural Resources from C$50.00 to C$60.00 in a report on Tuesday, April 24th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Canadian Natural Resources has a consensus rating of Buy and an average price target of C$53.93.

Shares of TSE CNQ opened at C$48.06 on Monday. Canadian Natural Resources has a 52-week low of C$35.90 and a 52-week high of C$47.56.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, March 1st. The company reported C$0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.37 by C$0.01. The firm had revenue of C$5.01 billion during the quarter, compared to analysts’ expectations of C$4.57 billion. Canadian Natural Resources had a net margin of 7.90% and a return on equity of 5.04%.

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 15th will be given a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 2.79%. The ex-dividend date is Thursday, June 14th.

In other Canadian Natural Resources news, insider Robin Sean Zabek sold 1,042 shares of the company’s stock in a transaction on Thursday, March 29th. The shares were sold at an average price of C$40.24, for a total value of C$41,930.08. Also, insider William Robert Peterson sold 30,000 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of C$46.00, for a total transaction of C$1,380,000.00. Insiders have sold 70,625 shares of company stock worth $3,232,410 over the last ninety days.

Canadian Natural Resources Company Profile

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.

Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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