Canadian Natural Resources (TSE:CNQ) Stock Rating Lowered by Gerdes Energy Research

Gerdes Energy Research lowered shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a buy rating to a neutral rating in a research report report published on Friday, BayStreet.CA reports.

Several other analysts have also weighed in on the stock. Raymond James decreased their target price on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a market perform rating on the stock in a research report on Wednesday, June 12th. TD Securities decreased their price objective on Canadian Natural Resources from C$60.00 to C$56.00 and set a buy rating on the stock in a report on Tuesday, October 1st. Wolfe Research upgraded Canadian Natural Resources to a hold rating in a research note on Thursday, July 18th. Desjardins raised their target price on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a hold rating in a research report on Friday, August 2nd. Finally, Scotiabank lowered their price target on Canadian Natural Resources from C$114.00 to C$57.00 and set a sector perform rating on the stock in a research report on Tuesday, June 11th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of Hold and an average target price of C$85.81.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ opened at C$49.81 on Friday. The firm has a market capitalization of C$106.10 billion, a PE ratio of 14.17, a PEG ratio of 0.53 and a beta of 1.91. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The business’s 50 day moving average is C$46.98 and its 200-day moving average is C$71.19.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. Sell-side analysts predict that Canadian Natural Resources will post 3.6036866 earnings per share for the current year.

Canadian Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.10 annualized dividend and a yield of 4.22%. Canadian Natural Resources’s dividend payout ratio (DPR) is 59.26%.

Insider Buying and Selling

In related news, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total transaction of C$202,966.99. 4.26% 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).