CIBC Raises Canadian Natural Resources (TSE:CNQ) Price Target to C$48.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price increased by CIBC from C$46.00 to C$48.00 in a research note published on Tuesday, BayStreet.CA reports.

CNQ has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price objective on shares of Canadian Natural Resources from C$44.00 to C$41.00 in a research note on Wednesday, September 11th. Raymond James restated an outperform rating and issued a C$40.00 target price on shares of Canadian Natural Resources in a report on Friday, November 8th. Evercore reduced their target price on shares of Canadian Natural Resources from C$48.00 to C$42.00 in a report on Thursday, October 10th. Royal Bank of Canada reduced their target price on shares of Canadian Natural Resources from C$45.00 to C$42.00 in a report on Friday, October 18th. Finally, Tudor Pickering & Holt restated a hold rating on shares of Canadian Natural Resources in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of C$44.41.

Shares of TSE CNQ opened at C$37.07 on Tuesday. The stock has a market cap of $43.88 billion and a price-to-earnings ratio of 10.98. Canadian Natural Resources has a 52 week low of C$30.01 and a 52 week high of C$42.56. The company’s 50-day moving average price is C$34.39 and its 200 day moving average price is C$34.61. The company has a current ratio of 0.60, a quick ratio of 0.40 and a debt-to-equity ratio of 64.64.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Wednesday, December 11th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.50 dividend on an annualized basis and a yield of 4.05%. Canadian Natural Resources’s dividend payout ratio (DPR) is 43.26%.

In other news, Senior Officer Scott Gerald Stauth sold 25,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$36.19, for a total transaction of C$904,762.50. Following the transaction, the insider now directly owns 49,221 shares in the company, valued at approximately C$1,781,332.60. Also, Senior Officer Betty Yee sold 3,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$37.80, for a total transaction of C$132,300.00. Following the transaction, the insider now owns 80,980 shares in the company, valued at C$3,061,044. Over the last quarter, insiders have sold 112,770 shares of company stock worth $4,151,936.

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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