Weekly Analysts’ Ratings Changes for Canadian Natural Resources (CNQ)

A number of firms have modified their ratings and price targets on shares of Canadian Natural Resources (TSE: CNQ) recently:

• 4/22/2024 – Canadian Natural Resources had its price target raised by analysts at CIBC from C$105.00 to C$115.00. They now have an “outperform” rating on the stock.
• 4/19/2024 – Canadian Natural Resources had its price target raised by analysts at National Bankshares, Inc. from C$94.00 to C$120.00. They now have a “sector perform” rating on the stock.
• 4/12/2024 – Canadian Natural Resources had its price target raised by analysts at Jefferies Financial Group Inc. from C$86.00 to C$110.00. They now have a “hold” rating on the stock.
• 4/9/2024 – Canadian Natural Resources had its price target raised by analysts at Royal Bank of Canada from C$100.00 to C$120.00.
• 4/9/2024 – Canadian Natural Resources had its price target raised by analysts at UBS Group AG from C$113.00 to C$124.00.
• 4/8/2024 – Canadian Natural Resources had its price target raised by analysts at Evercore Inc. from C$105.00 to C$115.00.
• 3/28/2024 – Canadian Natural Resources had its price target raised by analysts at BMO Capital Markets from C$110.00 to C$115.00.
• 3/22/2024 – Canadian Natural Resources had its price target raised by analysts at CIBC from C$95.00 to C$105.00. They now have an “outperform” rating on the stock.
• 3/20/2024 – Canadian Natural Resources had its price target raised by analysts at ATB Capital from C$100.00 to C$107.00. They now have an “outperform” rating on the stock.
• 3/5/2024 – Canadian Natural Resources had its price target raised by analysts at Stifel Nicolaus from C$100.00 to C$110.00. They now have a “buy” rating on the stock.
• 3/4/2024 – Canadian Natural Resources had its price target raised by analysts at JPMorgan Chase & Co. from C$102.00 to C$106.00.
• 3/1/2024 – Canadian Natural Resources had its price target raised by analysts at National Bankshares, Inc. from C$90.00 to C$94.00. They now have a “sector perform” rating on the stock.
• 3/1/2024 – Canadian Natural Resources had its price target raised by analysts at Scotiabank from C$90.00 to C$100.00. They now have a “sector perform” rating on the stock.
• 3/1/2024 – Canadian Natural Resources had its price target raised by analysts at Royal Bank of Canada from C$94.00 to C$100.00. They now have an “outperform” rating on the stock.
• 3/1/2024 – Canadian Natural Resources had its price target raised by analysts at BMO Capital Markets from C$105.00 to C$110.00. They now have an “outperform” rating on the stock.
• 3/1/2024 – Canadian Natural Resources had its price target raised by analysts at Evercore Inc. from C$90.00 to C$105.00. They now have an “in-line” rating on the stock.
• 3/1/2024 – Canadian Natural Resources had its price target raised by analysts at TD Securities from C$100.00 to C$110.00. They now have a “buy” rating on the stock.

Canadian Natural Resources Stock Performance

CNQ traded down C$0.14 on Monday, hitting C$105.17. The company’s stock had a trading volume of 7,196,491 shares, compared to its average volume of 6,361,713. The company’s 50 day simple moving average is C$98.44 and its 200-day simple moving average is C$91.24. Canadian Natural Resources Limited has a 12 month low of C$69.83 and a 12 month high of C$112.99. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01. The firm has a market cap of C$112.53 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, beating analysts’ consensus estimates of C$2.14 by C$0.20. The firm had revenue of C$9.55 billion for the quarter, compared to analysts’ expectations of C$9.04 billion. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. Analysts forecast that Canadian Natural Resources Limited will post 7.6092114 EPS for the current year.

Canadian Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 3.99%. Canadian Natural Resources’s payout ratio is currently 51.54%.

Insider Buying and Selling at Canadian Natural Resources

In other news, Senior Officer Trevor Wagil sold 1,126 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of C$86.33, for a total value of C$97,204.88. In related news, Senior Officer Trevor Wagil sold 1,126 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of C$86.33, for a total value of C$97,204.88. Also, Director Norman Murray Edwards sold 251,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$98.46, for a total transaction of C$24,762,187.00. Insiders have sold a total of 332,363 shares of company stock worth $32,567,851 in the last quarter. 2.20% of the stock is owned by insiders.

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells 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 (thermal oil), and synthetic crude oil (SCO).