Canadian Natural Resources (TSE:CNQ) Lowered to Hold at Desjardins

Desjardins downgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a hold rating in a research report released on Tuesday morning, BayStreet.CA reports. The firm currently has C$110.00 price objective on the stock, up from their previous price objective of C$104.00.

Other research analysts also recently issued research reports about the stock. TD Securities upped their target price on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a buy rating in a research note on Friday, March 1st. Scotiabank upped their target price on shares of Canadian Natural Resources from C$90.00 to C$100.00 and gave the stock a sector perform rating in a research note on Friday, March 1st. Evercore upped their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 in a research note on Monday, April 8th. ATB Capital increased their price objective on shares of Canadian Natural Resources from C$100.00 to C$107.00 and gave the company an outperform rating in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus increased their price objective on shares of Canadian Natural Resources from C$110.00 to C$126.00 and gave the company a buy rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of C$111.00.

Canadian Natural Resources Price Performance

Shares of CNQ opened at C$106.52 on Tuesday. The stock has a market cap of C$113.98 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.53 and a beta of 1.98. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96. Canadian Natural Resources has a fifty-two week low of C$69.83 and a fifty-two week high of C$112.99. The firm’s 50-day simple moving average is C$100.72 and its two-hundred day simple moving average is C$91.89.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.14 by C$0.20. The business had revenue of C$9.55 billion for the quarter, compared to analysts’ expectations of C$9.04 billion. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. Analysts anticipate that Canadian Natural Resources will post 7.6092114 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 3.94%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 51.54%.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of C$110.81, for a total value of C$332,430.00. In other news, Director Norman Murray Edwards sold 13,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$97.66, for a total value of C$1,318,349.25. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total transaction of C$332,430.00. Over the last ninety days, insiders have sold 331,237 shares of company stock worth $32,470,646. Company insiders own 2.20% of the company’s stock.

Canadian Natural Resources Company Profile

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).