Canadian Natural Resources (TSE:CNQ) Reaches New 52-Week High – Time to Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as C$72.35 and last traded at C$70.58, with a volume of 7034537 shares. The stock had previously closed at C$70.91.

Wall Street Analyst Weigh In

CNQ has been the subject of a number of recent research reports. Scotia raised their target price on Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Raymond James Financial upped their price target on Canadian Natural Resources from C$65.00 to C$66.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. TD increased their price target on Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada decreased their price objective on Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. Finally, Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$67.00 to C$69.00 in a research note on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$66.88.

Canadian Natural Resources Stock Down 0.3%

The company has a debt-to-equity ratio of 36.64, a current ratio of 1.00 and a quick ratio of 0.54. The company has a fifty day moving average price of C$65.26 and a 200 day moving average price of C$63.88. The company has a market cap of C$145.73 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.53 and a beta of 0.32.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The business had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. As a group, analysts anticipate that Canadian Natural Resources Limited will post 3.833989 EPS for the current 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.