Scotiabank Boosts Canadian Natural Resources Limited (CNQ) Price Target to C$50.00
Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by Scotiabank from C$45.00 to C$50.00 in a research report released on Wednesday. Scotiabank currently has an outperform rating on the stock.
Other analysts also recently issued research reports about the stock. GMP Securities raised their price objective on shares of Canadian Natural Resources Limited from C$52.00 to C$56.00 in a report on Friday, November 3rd. J P Morgan Chase & Co raised their price objective on shares of Canadian Natural Resources Limited from C$47.00 to C$48.00 in a report on Friday, November 3rd. Canaccord Genuity increased their target price on shares of Canadian Natural Resources Limited from C$47.00 to C$48.00 in a research report on Wednesday, September 6th. CIBC cut their target price on shares of Canadian Natural Resources Limited from C$55.00 to C$50.00 in a research report on Thursday, July 20th. Finally, TD Securities increased their target price on shares of Canadian Natural Resources Limited from C$49.00 to C$51.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of C$49.64.
Shares of Canadian Natural Resources Limited (TSE CNQ) opened at C$46.30 on Wednesday. Canadian Natural Resources Limited has a 1-year low of C$35.90 and a 1-year high of C$47.00.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Tuesday, December 12th will be given a $0.275 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.38%. Canadian Natural Resources Limited’s dividend payout ratio (DPR) is currently 48.42%.
In other news, insider Réal Michel Cusson acquired 12,500 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of C$28.74 per share, for a total transaction of C$359,250.00. Also, insider Allan E. Frankiw sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of C$39.32, for a total transaction of C$39,320.00. Over the last 90 days, insiders bought 50,000 shares of company stock valued at $1,437,000 and sold 160,331 shares valued at $6,498,761.
Canadian Natural Resources Limited Company Profile
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company’s segments include Exploration and Production, Oil Sands Mining and Upgrading, and Midstream. The Exploration and Production segment includes exploration, development, production and marketing of crude oil, natural gas liquids (NGLs) and natural gas.
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