Analysts Set Canadian Natural Resources Limited (TSE:CNQ) Price Target at C$65.35

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$65.65.

A number of equities research analysts have commented on the company. Royal Bank Of Canada decreased their price target on Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. TD upped their price objective 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. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Scotia lifted their target price on Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Finally, Raymond James Financial boosted their price target on Canadian Natural Resources from C$65.00 to C$66.00 and gave the stock an “outperform” rating in a report on Friday, August 7th.

Canadian Natural Resources Stock Performance

Shares of TSE CNQ opened at C$66.41 on Friday. The stock has a market cap of C$136.90 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a 1 year low of C$40.62 and a 1 year high of C$70.99. The firm has a fifty day moving average price of C$61.53 and a 200-day moving average price of C$61.69. The company has a debt-to-equity ratio of 36.64, a current ratio of 1.00 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share for the quarter. The company had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. Equities analysts anticipate 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.