Royal Bank of Canada Increases Canadian Natural Resource (CNQ) Price Target to C$56.00

Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) had its price target boosted by Royal Bank of Canada from C$55.00 to C$56.00 in a research report report published on Friday. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on the company. Raymond James reissued an outperform rating and set a C$65.00 price objective on shares of Canadian Natural Resource in a research report on Friday. Canaccord Genuity lowered their price objective on Canadian Natural Resource from C$60.00 to C$55.00 in a research report on Wednesday, October 24th. Morgan Stanley lowered their price objective on Canadian Natural Resource from C$64.00 to C$60.00 in a research report on Sunday, October 14th. BMO Capital Markets lowered their price objective on Canadian Natural Resource from C$60.00 to C$58.00 in a research report on Tuesday, October 9th. Finally, Cormark lowered their price objective on Canadian Natural Resource from C$58.00 to C$55.00 in a research report on Tuesday, October 9th. Eight equities research analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average price target of C$56.44.

TSE CNQ traded down C$0.34 during trading on Friday, hitting C$37.50. The stock had a trading volume of 4,920,100 shares, compared to its average volume of 3,026,358. Canadian Natural Resource has a twelve month low of C$35.31 and a twelve month high of C$49.08.

Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, August 2nd. The company reported C$0.90 earnings per share for the quarter, beating the consensus estimate of C$0.71 by C$0.19. The firm had revenue of C$5.95 billion during the quarter, compared to analyst estimates of C$5.53 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Monday, December 10th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.57%.

In related news, insider Betty Yee sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of C$43.98, for a total value of C$65,970.00. Also, insider Ronald Keith Laing sold 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of C$41.82, for a total value of C$108,732.00. Over the last three months, insiders have sold 11,600 shares of company stock valued at $503,617.

About Canadian Natural Resource

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.

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