Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$45.00 by Analysts at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lowered by Royal Bank of Canada from C$46.00 to C$45.00 in a research note published on Thursday morning, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on CNQ. TD Securities increased their price objective on shares of Lightspeed POS from C$28.00 to C$29.00 and gave the company a buy rating in a research note on Friday, May 31st. Canaccord Genuity reaffirmed a buy rating and issued a $7.50 target price on shares of in a report on Tuesday, July 9th. CIBC lowered their target price on shares of WestJet Airlines from C$22.00 to C$21.00 in a report on Tuesday, April 23rd. GMP Securities reaffirmed a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Finally, UBS Group raised shares of to a neutral rating and upped their target price for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th. Eleven research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average price target of C$48.12.

Shares of CNQ stock opened at C$34.05 on Thursday. Canadian Natural Resources has a 52-week low of C$30.11 and a 52-week high of C$47.93. The firm has a market cap of $40.54 billion and a PE ratio of 13.91. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 69.97. The firm has a fifty day simple moving average of C$35.64.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.45 by C$0.20. The business had revenue of C$5.25 billion during the quarter, compared to analyst estimates of C$4.99 billion. On average, research analysts forecast that Canadian Natural Resources will post 2.7499998 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.375 dividend. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.50 annualized dividend and a dividend yield of 4.41%. Canadian Natural Resources’s dividend payout ratio is presently 56.37%.

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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