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Canadian Natural Resources (NYSE:CNQ) Price Target Raised to C$94.00

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) had its price objective boosted by TD Securities from C$90.00 to C$94.00 in a research note released on Friday, The Fly reports.

CNQ has been the subject of several other research reports. Stifel Nicolaus increased their price objective on Canadian Natural Resources from C$80.00 to C$100.00 in a report on Monday, March 7th. Scotiabank increased their price objective on Canadian Natural Resources from C$80.00 to C$88.00 in a report on Monday, April 18th. The Goldman Sachs Group cut Canadian Natural Resources from a buy rating to a neutral rating and lowered their target price for the company from $58.00 to $54.00 in a research note on Monday, January 24th. Bank of America began coverage on Canadian Natural Resources in a research note on Monday, January 10th. They issued a buy rating and a $54.00 target price for the company. Finally, National Bank Financial raised their target price on Canadian Natural Resources from C$90.00 to C$100.00 in a research note on Thursday, April 14th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $76.18.

CNQ traded down $0.10 on Friday, hitting $63.71. 2,157,964 shares of the company were exchanged, compared to its average volume of 2,628,089. The firm has a fifty day simple moving average of $62.23 and a two-hundred day simple moving average of $51.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.59 and a current ratio of 0.80. Canadian Natural Resources has a 12 month low of $29.53 and a 12 month high of $70.60. The stock has a market capitalization of $73.95 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.40 and a beta of 1.53.

Canadian Natural Resources (NYSE:CNQGet Rating) (TSE:CNQ) last posted its quarterly earnings results on Thursday, March 3rd. The oil and gas producer reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.54. Canadian Natural Resources had a return on equity of 21.20% and a net margin of 23.33%. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $8.56 billion. During the same period last year, the company earned $0.03 EPS. On average, equities analysts expect that Canadian Natural Resources will post 8.6 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 17th will be issued a $0.583 dividend. This represents a $2.33 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, June 16th. Canadian Natural Resources’s payout ratio is 37.44%.

Institutional investors have recently bought and sold shares of the business. AdvisorNet Financial Inc bought a new stake in shares of Canadian Natural Resources in the 4th quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Canadian Natural Resources by 84.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 750 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 344 shares in the last quarter. KB Financial Partners LLC bought a new stake in shares of Canadian Natural Resources in the 4th quarter worth $33,000. Lindbrook Capital LLC increased its holdings in shares of Canadian Natural Resources by 106.0% in the 4th quarter. Lindbrook Capital LLC now owns 853 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 439 shares in the last quarter. Finally, TCTC Holdings LLC bought a new stake in shares of Canadian Natural Resources in the 4th quarter worth $36,000. 68.45% of the stock is owned by institutional investors and hedge funds.

Canadian Natural Resources Company Profile (Get Rating)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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Read More: Canadian Natural Resources (NYSE:CNQ) Price Target Raised to C$94.00

2022-05-07 20:31:02

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