Scotiabank Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$60.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target hoisted by research analysts at Scotiabank from C$52.00 to C$60.00 in a note issued to investors on Thursday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 16.23% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Evercore increased their price objective on Canadian Natural Resources from C$47.00 to C$52.00 in a research note on Monday. Tudor Pickering & Holt increased their target price on Canadian Natural Resources from C$52.00 to C$57.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Canadian Natural Resources in a research report on Thursday, September 16th. TD Securities increased their target price on Canadian Natural Resources from C$52.00 to C$55.00 and gave the company a “buy” rating in a research report on Friday, August 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a C$44.00 target price on shares of Canadian Natural Resources in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$53.83.

TSE:CNQ traded up C$1.60 during midday trading on Thursday, hitting C$51.62. The stock had a trading volume of 2,287,600 shares, compared to its average volume of 6,380,438. Canadian Natural Resources has a one year low of C$20.31 and a one year high of C$51.63. The company has a market capitalization of C$60.95 billion and a price-to-earnings ratio of 14.98. The stock has a 50-day moving average of C$43.61 and a 200 day moving average of C$42.20. The company has a quick ratio of 0.54, a current ratio of 0.78 and a debt-to-equity ratio of 58.32.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, August 5th. The company reported C$1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.27. The firm had revenue of C$6.53 billion during the quarter, compared to the consensus estimate of C$6.59 billion. On average, sell-side analysts anticipate that Canadian Natural Resources will post 5.1300001 earnings per share for the current fiscal year.

In other news, Senior Officer Scott Gerald Stauth sold 38,000 shares of the business’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of C$48.11, for a total transaction of C$1,828,180.00. Following the transaction, the insider now directly owns 49,221 shares in the company, valued at approximately C$2,368,022.31. Also, Director David Tuer sold 12,233 shares of Canadian Natural Resources stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of C$41.64, for a total transaction of C$509,345.42. Following the sale, the director now directly owns 44,978 shares in the company, valued at approximately C$1,872,748.99. Over the last quarter, insiders sold 182,205 shares of company stock worth $8,427,990.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil.

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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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