CIBC Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$115.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lifted by CIBC from C$105.00 to C$115.00 in a research report released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

CNQ has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on Canadian Natural Resources from C$102.00 to C$106.00 in a research report on Monday, March 4th. ATB Capital upped their target price on shares of Canadian Natural Resources from C$100.00 to C$107.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. Evercore raised their price target on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a report on Monday, April 8th. Scotiabank upped their price target on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the stock a sector perform rating in a report on Friday, March 1st. Finally, Jefferies Financial Group lifted their price objective on Canadian Natural Resources from C$86.00 to C$110.00 and gave the company a hold rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of C$109.07.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$105.17 on Monday. The company has a market capitalization of C$112.53 billion, a PE ratio of 14.08, a PEG ratio of 0.53 and a beta of 1.98. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01. The stock’s 50 day moving average price is C$98.90 and its 200-day moving average price is C$91.39. Canadian Natural Resources has a twelve month low of C$69.83 and a twelve month high of C$112.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.20. The firm had revenue of C$9.55 billion during the quarter, compared to the consensus estimate of C$9.04 billion. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. On average, equities analysts anticipate that Canadian Natural Resources will post 7.6092114 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $1.05 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 3.99%. Canadian Natural Resources’s dividend payout ratio is 51.54%.

Insider Activity at Canadian Natural Resources

In other news, Director Norman Murray Edwards sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of C$97.66, for a total value of C$1,318,349.25. In related news, Director Norman Murray Edwards sold 13,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of C$97.66, for a total transaction of C$1,318,349.25. Also, Senior Officer Timothy Shawn Mckay sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of C$99.36, for a total value of C$2,980,797.00. In the last three months, insiders have sold 332,363 shares of company stock valued at $32,567,851. Corporate insiders own 2.20% of the company’s stock.

Canadian Natural Resources Company Profile

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).