Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) Target Price at C$64.06

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$64.88.

CNQ has been the topic of a number of analyst reports. Desjardins set a C$70.00 target price on Canadian Natural Resources and gave the company a “hold” rating in a report on Friday, July 17th. Raymond James Financial raised Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$65.00 to C$67.00 in a report on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on Canadian Natural Resources from C$80.00 to C$79.00 in a research report on Wednesday, July 15th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Finally, TD lifted their price objective on Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th.

Canadian Natural Resources Stock Up 2.3%

Shares of TSE CNQ opened at C$63.31 on Wednesday. The firm’s 50-day moving average is C$61.58 and its two-hundred day moving average is C$59.43. The company has a market capitalization of C$132.05 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a 12-month low of C$40.62 and a 12-month high of C$70.99. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. The business had revenue of C$10.81 billion during the quarter. Equities analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal 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.