Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$73.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target boosted by equities research analysts at TD from C$72.00 to C$73.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price target points to a potential upside of 14.91% from the company’s previous close.

A number of other brokerages have also weighed in on CNQ. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Scotia increased their price target 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. Royal Bank Of Canada dropped their price objective on Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. Desjardins set a C$70.00 target price on Canadian Natural Resources and gave the company a “hold” rating in a research note on Friday, July 17th. Finally, Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average price target of C$65.35.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock traded down C$0.30 during mid-day trading on Friday, hitting C$63.53. 2,195,584 shares of the company’s stock traded hands, compared to its average volume of 14,813,485. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85. Canadian Natural Resources has a one year low of C$40.62 and a one year high of C$70.99. The firm has a 50 day moving average price of C$61.39 and a 200 day moving average price of C$61.06. The company has a market cap of C$132.51 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The company had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. On average, equities analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

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.