CSFB Analysts Give Canadian Natural Resources (TSE:CNQ) a C$32.00 Price Target
CSFB set a C$32.00 target price on Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a report issued on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Several other equities research analysts also recently commented on the company. Raymond James boosted their price objective on Canadian Natural Resources from C$24.00 to C$26.00 and gave the company an outperform rating in a report on Friday, May 8th. Goldman Sachs Group restated a buy rating and set a C$25.00 price objective on shares of Canadian Natural Resources in a report on Monday, June 22nd. Evercore ISI decreased their price objective on Canadian Natural Resources from C$30.00 to C$26.00 in a report on Friday, May 8th. Wells Fargo & Co decreased their price objective on Canadian Natural Resources from C$34.00 to C$14.00 in a report on Friday, March 20th. Finally, Morgan Stanley upgraded Canadian Natural Resources from an equal weight rating to an overweight rating and upped their price target for the stock from C$24.00 to C$32.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of C$31.95.
Shares of CNQ opened at C$22.91 on Wednesday. Canadian Natural Resources has a 52-week low of C$9.80 and a 52-week high of C$42.57. The company has a debt-to-equity ratio of 73.46, a quick ratio of 0.45 and a current ratio of 0.66. The business’s 50 day moving average price is C$24.92 and its two-hundred day moving average price is C$29.06. The firm has a market cap of $26.00 billion and a PE ratio of 8.57.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date of this dividend was Thursday, June 11th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. Canadian Natural Resources’s dividend payout ratio is currently 57.99%.
In related news, Director Stephen W. Laut sold 183,288 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of C$24.91, for a total transaction of C$4,565,704.08. Following the sale, the director now owns 480,110 shares of the company’s stock, valued at approximately C$11,959,540.10.
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.
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