Canadian Natural Resources (NYSE:CNQ) Price Target Increased to C$69.00 by Analysts at TD Securities

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) had its target price hoisted by TD Securities from C$63.00 to C$69.00 in a report published on Wednesday, The Fly reports.

Several other research firms have also weighed in on CNQ. Royal Bank of Canada boosted their target price on shares of Canadian Natural Resources from C$60.00 to C$66.00 and gave the company an outperform rating in a research note on Wednesday. Zacks Investment Research lowered shares of Canadian Natural Resources from a strong-buy rating to a hold rating and set a $46.00 target price for the company. in a research note on Wednesday, January 5th. Morgan Stanley began coverage on shares of Canadian Natural Resources in a research note on Thursday, October 7th. They set an equal weight rating and a $53.00 target price for the company. National Bank Financial boosted their target price on shares of Canadian Natural Resources from C$61.00 to C$70.00 and gave the company an outperform rating in a research note on Wednesday, September 29th. Finally, Stifel Nicolaus boosted their target price on shares of Canadian Natural Resources from C$65.00 to C$67.50 and gave the company a buy rating in a research note on Thursday, September 23rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $57.59.

CNQ opened at $51.94 on Wednesday. The stock has a market capitalization of $61.03 billion, a PE ratio of 13.18, a P/E/G ratio of 0.67 and a beta of 1.81. The firm’s fifty day moving average price is $42.46 and its 200 day moving average price is $38.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.91 and a quick ratio of 0.72. Canadian Natural Resources has a 12-month low of $22.40 and a 12-month high of $52.17.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last posted its quarterly earnings results on Thursday, November 4th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.21. The firm had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.30 billion. Canadian Natural Resources had a net margin of 21.13% and a return on equity of 14.56%. On average, equities research analysts forecast that Canadian Natural Resources will post 4.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 5th. Investors of record on Friday, December 10th were issued a $0.4731 dividend. The ex-dividend date was Thursday, December 9th. This represents a $1.89 annualized dividend and a yield of 3.64%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $0.37. Canadian Natural Resources’s dividend payout ratio is presently 46.70%.

A number of hedge funds have recently bought and sold shares of CNQ. FMR LLC lifted its holdings in Canadian Natural Resources by 81.5% in the second quarter. FMR LLC now owns 55,586,086 shares of the oil and gas producer’s stock worth $2,017,847,000 after purchasing an additional 24,956,911 shares during the period. Capital World Investors lifted its holdings in Canadian Natural Resources by 10.0% in the third quarter. Capital World Investors now owns 89,966,731 shares of the oil and gas producer’s stock worth $3,289,389,000 after purchasing an additional 8,157,761 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Canadian Natural Resources by 139.4% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,311,899 shares of the oil and gas producer’s stock valued at $413,093,000 after acquiring an additional 6,586,997 shares during the last quarter. Yacktman Asset Management LP lifted its holdings in Canadian Natural Resources by 30.3% in the 3rd quarter. Yacktman Asset Management LP now owns 16,641,604 shares of the oil and gas producer’s stock valued at $608,084,000 after acquiring an additional 3,870,378 shares during the last quarter. Finally, Amundi acquired a new stake in Canadian Natural Resources in the 2nd quarter valued at about $124,551,000. 68.35% of the stock is owned by institutional investors and hedge funds.

About Canadian Natural Resources

Canadian Natural Resources Ltd. is an oil and natural gas production company, which engages in the exploration, development, marketing, and production of crude oil and natural gas. It operates through the following segments: Oil Sands Mining & Upgrading; Midstream & Refining; and Exploration & Production.

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