Jefferies Financial Group Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$49.00

by · The Markets Daily

Canadian Natural Resources (TSE:CNQ – Free Report) (NYSE:CNQ) had its price target trimmed by Jefferies Financial Group from C$52.00 to C$49.00 in a research note published on Monday, BayStreet.CA reports. The firm currently has a hold rating on the stock.

Several other analysts have also issued reports on CNQ. Wolfe Research raised Canadian Natural Resources to a hold rating in a report on Thursday, July 18th. TD Securities increased their target price on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a buy rating in a report on Friday, August 2nd. Scotiabank lowered their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a report on Tuesday, June 11th. Royal Bank of Canada increased their price objective on shares of Canadian Natural Resources from C$60.00 to C$62.00 in a research note on Friday, August 2nd. Finally, Raymond James lowered their target price on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating on the stock in a research note on Wednesday, June 12th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of C$90.31.

View Our Latest Stock Analysis on CNQ

Canadian Natural Resources Trading Up 0.1 %

Canadian Natural Resources stock opened at C$44.72 on Monday. Canadian Natural Resources has a 52-week low of C$40.02 and a 52-week high of C$56.49. The company has a market cap of C$95.25 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.53 and a beta of 1.91. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The business has a 50-day simple moving average of C$47.64 and a two-hundred day simple moving average of C$75.57.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Analysts predict that Canadian Natural Resources will post 4.2311277 EPS for the current year.

Canadian Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 13th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Friday, September 13th. Canadian Natural Resources’s payout ratio is presently 59.09%.

Insiders Place Their Bets

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total value of C$181,612.50. Corporate insiders own 4.24% of the company’s stock.

Canadian Natural Resources Company Profile

(Get Free Report)

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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