Canadian Natural Resources (TSE:CNQ) Rating Increased to Buy at Gerdes Energy Research

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was upgraded by equities research analysts at Gerdes Energy Research from a “neutral” rating to a “buy” rating in a report released on Monday,BayStreet.CA reports. The brokerage presently has a C$69.00 price target on the stock, up from their prior price target of C$67.00. Gerdes Energy Research’s target price would suggest a potential upside of 22.71% from the company’s current price.

Several other brokerages also recently commented on CNQ. Scotiabank increased their price objective on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a report on Tuesday, March 31st. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and upped their target price for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. TD increased their price target on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Desjardins raised their price target on shares of Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus price target of C$64.06.

Canadian Natural Resources Stock Up 0.4%

CNQ stock traded up C$0.21 during midday trading on Monday, hitting C$56.23. The stock had a trading volume of 3,727,852 shares, compared to its average volume of 15,636,826. Canadian Natural Resources has a 52-week low of C$40.62 and a 52-week high of C$70.99. The firm has a market cap of C$117.28 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.53 and a beta of 0.24. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54. The business has a 50-day moving average of C$62.66 and a two-hundred day moving average of C$57.78.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. The company had revenue of C$10.81 billion during the quarter. As a group, equities research analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.