Canadian Natural Resources (TSE:CNQ) Downgraded to “Hold” at Desjardins

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

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a report on Tuesday, April 9th. Jefferies Financial Group lifted their target price on shares of Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a hold rating in a research note on Friday, April 12th. National Bankshares boosted their target price on shares of Canadian Natural Resources from C$94.00 to C$120.00 and gave the company a sector perform rating in a report on Friday, April 19th. TD Securities increased their price target on Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a buy rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Canadian Natural Resources from C$102.00 to C$106.00 in a research note on Monday, March 4th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources currently has a consensus rating of Moderate Buy and an average price target of C$111.00.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at C$105.26 on Tuesday. The stock has a market cap of C$112.63 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a twelve month low of C$69.83 and a twelve month high of C$112.99. The company’s fifty day moving average is C$99.39 and its 200 day moving average is C$91.54. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 31.01.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly 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. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. The firm had revenue of C$9.55 billion for the quarter, compared to analyst estimates of C$9.04 billion. Sell-side analysts forecast that Canadian Natural Resources will post 7.6092114 EPS for the current year.

Canadian Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.20 annualized dividend and a yield of 3.99%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $1.00. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 51.54%.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Calvin John Bast sold 3,750 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of C$97.62, for a total value of C$366,058.88. In other Canadian Natural Resources news, Senior Officer Calvin John Bast sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of C$97.62, for a total transaction of C$366,058.88. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s 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 the last 90 days, insiders sold 332,363 shares of company stock worth $32,567,851. 2.20% of the stock is owned by corporate insiders.

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).