Canadian Natural Resources (TSE:CNQ) Posts Quarterly Earnings Results

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) announced its quarterly earnings data on Thursday. The company reported C$1.17 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$10.81 billion for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$60.89 on Friday. The company’s 50 day moving average price is C$64.03 and its 200 day moving average price is C$53.41. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99. The company has a market capitalization of C$127.07 billion, a PE ratio of 11.80, a PEG ratio of 0.53 and a beta of 0.48. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Gordon D. Giffin sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the completion of the sale, the director directly owned 171,210 shares of the company’s stock, valued at C$11,643,992.10. The trade was a 12.74% decrease in their ownership of the stock. 4.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CNQ has been the topic of several analyst reports. Scotiabank lifted their target price on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. BMO Capital Markets lifted their target price on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Raymond James Financial raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and lifted their target price for the stock from C$65.00 to C$67.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Canadian Natural Resources from C$48.00 to C$70.00 in a research report on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average price target of C$63.73.

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.