Canadian Natural Resources Limited (CNQ) Price Target Raised to C$50.00 at CIBC
Canadian Natural Resources Limited (TSE:CNQ) had its price target raised by analysts at CIBC from C$47.00 to C$50.00 in a report released on Wednesday. CIBC’s price target would suggest a potential upside of 15.10% from the company’s current price.
Several other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada raised shares of Canadian Natural Resources Limited from a “buy” rating to a “top pick” rating and set a C$51.00 price target on the stock in a research note on Monday, August 29th. Barclays PLC lifted their price target on shares of Canadian Natural Resources Limited from C$39.00 to C$44.00 in a research note on Thursday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Canadian Natural Resources Limited from C$47.00 to C$51.00 in a research note on Monday, September 12th. FirstEnergy Capital raised shares of Canadian Natural Resources Limited from an “outperform” rating to a “top pick” rating in a research note on Thursday, July 7th. Finally, TD Securities reaffirmed a “hold” rating and set a C$40.00 price target on shares of Canadian Natural Resources Limited in a research note on Friday, August 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of C$43.40.
Canadian Natural Resources Limited (TSE:CNQ) traded up 2.31% during mid-day trading on Wednesday, hitting $43.44. The stock had a trading volume of 1,444,582 shares. The firm has a 50-day moving average of $40.87 and a 200-day moving average of $39.34. Canadian Natural Resources Limited has a 52-week low of $21.27 and a 52-week high of $43.60. The stock’s market cap is $47.85 billion.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 16th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Wednesday, September 14th.
About Canadian Natural Resources Limited
Canadian Natural Resources Limited is an independent crude oil and natural gas exploration, development and production company. The Company is engaged in the acquisition, exploration, development, production, marketing and sale of crude oil, natural gas and natural gas liquids (NGLs). Its exploration and production operations are focused in North America, largely in Western Canada; the United Kingdom (UK) portion of the North Sea and Cote d’Ivoire, Gabon, and South Africa in Offshore Africa.
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