Canadian Natural Resource (CNQ) Given New C$55.00 Price Target at Cormark

Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) had its price objective lowered by Cormark from C$58.00 to C$55.00 in a report published on Tuesday morning.

Several other analysts have also commented on the stock. Royal Bank of Canada lowered shares of Canadian Natural Resource from a top pick rating to an outperform rating and decreased their price target for the company from C$58.00 to C$55.00 in a research report on Thursday, September 20th. Canaccord Genuity increased their price objective on shares of Canadian Natural Resource from C$54.00 to C$60.00 in a research report on Tuesday, July 10th. National Bank Financial decreased their price objective on shares of Canadian Natural Resource from C$66.00 to C$64.00 and set an outperform rating for the company in a research report on Friday, August 3rd. Barclays increased their price objective on shares of Canadian Natural Resource from C$55.00 to C$59.00 in a research report on Wednesday, July 11th. Finally, CIBC reaffirmed an outperform rating and issued a C$55.00 price objective on shares of Canadian Natural Resource in a research report on Friday, October 5th. Eight analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus target price of C$56.47.

CNQ stock opened at C$37.85 on Tuesday. Canadian Natural Resource has a one year low of C$36.88 and a one year high of C$49.08.

Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, August 2nd. The company reported C$0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.71 by C$0.19. The business had revenue of C$5.95 billion during the quarter, compared to analyst estimates of C$5.53 billion. Canadian Natural Resource had a net margin of 7.90% and a return on equity of 5.04%.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Friday, September 14th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Thursday, September 13th.

In other Canadian Natural Resource news, insider Ronald Keith Laing sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of C$45.40, for a total transaction of C$181,600.00. Also, insider Betty Yee sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of C$43.98, for a total transaction of C$65,970.00. Insiders sold a total of 11,600 shares of company stock valued at $503,617 over the last ninety days.

Canadian Natural Resource Company Profile

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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Canadian Natural Resource (TSE:CNQ)

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