Canadian Natural Resource (CNQ) Given New C$60.00 Price Target at Morgan Stanley

Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) had its target price decreased by Morgan Stanley from C$64.00 to C$60.00 in a research note issued to investors on Sunday.

Several other brokerages have also commented on CNQ. Raymond James raised their price objective on Canadian Natural Resource from C$59.00 to C$65.00 in a report on Thursday, July 5th. Royal Bank of Canada lowered Canadian Natural Resource from a top pick rating to an outperform rating and dropped their price objective for the company from C$58.00 to C$55.00 in a report on Thursday, September 20th. Canaccord Genuity raised their price objective on Canadian Natural Resource from C$54.00 to C$60.00 in a report on Tuesday, July 10th. National Bank Financial dropped their price objective on Canadian Natural Resource from C$66.00 to C$64.00 and set an outperform rating on the stock in a report on Friday, August 3rd. Finally, Barclays raised their price objective on Canadian Natural Resource from C$55.00 to C$59.00 in a report on Wednesday, July 11th. Eight analysts have rated the stock with a buy rating, Canadian Natural Resource has an average rating of Buy and an average target price of C$56.69.

Canadian Natural Resource stock opened at C$37.85 on Friday. Canadian Natural Resource has a 52 week low of C$36.88 and a 52 week high of C$49.08.

Canadian Natural Resource (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, August 2nd. The company reported C$0.90 EPS for the quarter, topping the consensus estimate of C$0.71 by C$0.19. The firm had revenue of C$5.95 billion for the quarter, compared to analyst estimates of C$5.53 billion. Canadian Natural Resource had a return on equity of 5.04% and a net margin of 7.90%.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, September 13th.

In other news, insider Ronald Keith Laing sold 4,000 shares of Canadian Natural Resource stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of C$45.40, for a total value of C$181,600.00. Also, insider Allan E. Frankiw sold 1,000 shares of Canadian Natural Resource stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of C$42.54, for a total value of C$42,540.00. Insiders sold 11,600 shares of company stock worth $503,617 over the last ninety days.

Canadian Natural Resource Company Profile

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.

Further Reading: How to Invest in the Dividend Aristocrat Index

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