Canadian Natural Resources Limited (TSE:CNQ) Given Consensus Recommendation of “Hold” by Analysts

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been given an average recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$74.31.

Several analysts have recently weighed in on the stock. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$56.00 to C$59.00 in a research note on Tuesday, October 8th. Raymond James lifted their price target on shares of Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research note on Friday. TD Securities raised their target price on Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets boosted their target price on Canadian Natural Resources from C$57.50 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research raised Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other news, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction dated Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. 4.26% of the stock is owned by corporate insiders.

Canadian Natural Resources Trading Down 0.1 %

TSE CNQ opened at C$47.28 on Monday. The stock has a market capitalization of C$100.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.53 and a beta of 1.89. The business has a 50 day simple moving average of C$47.36 and a 200 day simple moving average of C$64.00. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49.

Canadian Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be issued a $0.525 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.10 annualized dividend and a dividend yield of 4.44%. Canadian Natural Resources’s dividend payout ratio is currently 60.97%.

About Canadian Natural Resources

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).