Canadian Natural Resources (TSE:CNQ) Given “Outperform” Rating at Raymond James

Raymond James restated their outperform rating on shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a research note released on Friday morning, BayStreet.CA reports. Raymond James currently has a C$47.00 price target on the stock.

Other research analysts also recently issued reports about the stock. UBS Group reduced their price target on shares of Canadian Natural Resources from C$59.00 to C$55.00 in a research report on Thursday, June 20th. Tudor Pickering & Holt restated a buy rating on shares of Canadian Natural Resources in a research report on Friday, June 7th. Canaccord Genuity increased their price objective on shares of Canadian Natural Resources from C$50.00 to C$53.00 in a report on Tuesday, July 9th. Royal Bank of Canada dropped their price objective on shares of Canadian Natural Resources from C$46.00 to C$45.00 in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a report on Thursday, May 30th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of C$48.18.

Shares of Canadian Natural Resources stock traded down C$0.74 during trading hours on Friday, reaching C$31.51. The company’s stock had a trading volume of 3,652,300 shares, compared to its average volume of 3,463,077. The business’s 50 day moving average price is C$34.91. The company has a current ratio of 0.76, a quick ratio of 0.52 and a debt-to-equity ratio of 69.97. Canadian Natural Resources has a one year low of C$30.11 and a one year high of C$47.20. The stock has a market capitalization of $37.64 billion and a PE ratio of 12.87.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.45 by C$0.20. The business had revenue of C$5.25 billion during the quarter, compared to the consensus estimate of C$4.99 billion. Analysts expect that Canadian Natural Resources will post 2.7500001 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.76%. Canadian Natural Resources’s dividend payout ratio (DPR) is presently 56.37%.

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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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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