Canadian Natural Resources (TSE:CNQ) Sets New 12-Month High on Analyst Upgrade

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ hit a new 52-week high during mid-day trading on Monday after Evercore raised their price target on the stock from C$105.00 to C$115.00. The stock traded as high as C$110.35 and last traded at C$108.89, with a volume of 1122287 shares traded. The stock had previously closed at C$110.32.

Other research analysts also recently issued reports about the stock. Scotiabank increased their price target 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 report on Friday, March 1st. Wells Fargo & Company decreased their price target on shares of Canadian Natural Resources from C$95.00 to C$86.00 in a research report on Thursday, December 14th. Stifel Nicolaus increased their price target on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. National Bankshares raised their price objective on shares of Canadian Natural Resources from C$90.00 to C$94.00 and gave the company a "sector perform" rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada raised their price objective on shares of Canadian Natural Resources from C$94.00 to C$100.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$102.13.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Calvin John Bast sold 3,750 shares of Canadian Natural Resources 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 Erin Louise Lunn sold 3,664 shares of Canadian Natural Resources stock in a transaction on Thursday, April 4th. The shares were sold at an average price of C$35.59, for a total value of C$130,419.35. Also, Senior Officer Calvin John Bast sold 3,750 shares of Canadian Natural Resources stock in a transaction 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. In the last ninety days, insiders have sold 331,663 shares of company stock worth $32,438,948. Insiders own 2.21% of the company's stock.

Canadian Natural Resources Stock Performance

The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01. The business's 50 day moving average is C$93.40 and its 200 day moving average is C$89.66. The stock has a market capitalization of C$117.34 billion, a PE ratio of 14.65, a PEG ratio of 0.53 and a beta of 1.98.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released its quarterly earnings results on Thursday, February 29th. The company reported C$2.34 EPS for the quarter, topping analysts' consensus estimates of C$2.14 by C$0.20. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. The firm had revenue of C$9.55 billion during the quarter, compared to analysts' expectations of C$9.04 billion. On average, equities research analysts predict that Canadian Natural Resources Limited will post 7.4656696 earnings per share for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $1.05 per share. This is a positive change from Canadian Natural Resources's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.20 dividend on an annualized basis and a yield of 3.83%. Canadian Natural Resources's dividend payout ratio (DPR) is presently 51.54%.

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).