Canadian Natural Resources (TSE:CNQ) Issues Quarterly Earnings Results

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) announced its quarterly earnings data on Thursday. The company reported C$2.19 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at C$63.83 on Friday. The company has a market cap of C$133.13 billion, a P/E ratio of 12.37, a PEG ratio of 0.53 and a beta of 0.27. The business has a 50 day moving average of C$61.39 and a two-hundred day moving average of C$61.06. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Desjardins set a C$70.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a research note on Friday, July 17th. Royal Bank Of Canada cut their price objective on Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. TD lifted their target price on Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$65.00 to C$67.00 in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$64.88.

Canadian Natural Resources Company Profile

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.