Canadian Natural Resources (CNQ) PT Lowered to C$59.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective reduced by Raymond James from C$60.00 to C$59.00 in a research report sent to investors on Tuesday.

Several other research firms also recently weighed in on CNQ. Canaccord Genuity lifted their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, May 14th. National Bank Financial decreased their price target on shares of Canadian Natural Resources from C$60.00 to C$59.00 and set an outperform rating for the company in a research note on Friday, May 4th. GMP Securities lifted their price target on shares of Canadian Natural Resources from C$56.00 to C$57.00 in a research note on Friday, May 4th. CSFB lifted their price target on shares of Canadian Natural Resources from C$54.00 to C$59.00 in a research note on Friday, April 13th. Finally, Barclays lifted their price target on shares of Canadian Natural Resources from C$44.00 to C$55.00 in a research note on Monday, January 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of C$53.86.

Shares of TSE CNQ opened at C$46.01 on Tuesday. Canadian Natural Resources has a twelve month low of C$35.90 and a twelve month high of C$48.73.

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

The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Stockholders 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 dividend yield of 2.91%. The ex-dividend date is Thursday, June 14th.

In other news, insider Scott Gerald Stauth sold 37,500 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of C$46.15, for a total transaction of C$1,730,625.00. Also, insider Robin Sean Zabek sold 1,042 shares of the business’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of C$40.24, for a total transaction of C$41,930.08. Over the last three months, insiders have sold 124,125 shares of company stock valued at $5,734,915.

About Canadian Natural Resources

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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