Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lifted by analysts at Raymond James Financial from C$66.00 to C$70.00 in a research report issued on Wednesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential downside of 0.81% from the company’s previous close.

CNQ has been the subject of several other reports. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. TD increased their price target on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada lowered their price objective on Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. Desjardins set a C$70.00 price objective on Canadian Natural Resources and gave the company a “hold” rating in a research note on Friday, July 17th. Finally, Scotia increased 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 report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$67.12.

Canadian Natural Resources Stock Down 1.6%

Shares of CNQ traded down C$1.13 during trading on Wednesday, reaching C$70.57. The company’s stock had a trading volume of 11,807,468 shares, compared to its average volume of 15,100,510. The company has a market cap of C$145.48 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.53 and a beta of 0.32. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The company has a fifty day moving average of C$66.35 and a two-hundred day moving average of C$64.23. Canadian Natural Resources has a twelve month low of C$41.67 and a twelve month high of C$72.35.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share 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%. On average, sell-side analysts predict that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown purchased 709 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of C$70.44 per share, with a total value of C$49,941.96. Following the acquisition, the director owned 1,780 shares of the company’s stock, valued at approximately C$125,383.20. This represents a 66.20% increase in their position. Company insiders own 4.26% of the company’s stock.

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.