Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$70.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective raised by Raymond James Financial from C$66.00 to C$70.00 in a research report released on Wednesday morning,BayStreet reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on CNQ. Canadian Imperial Bank of Commerce boosted their target price on Canadian Natural Resources from C$70.00 to C$75.00 in a report on Thursday, August 27th. Desjardins set a C$70.00 price target on Canadian Natural Resources and gave the company a “hold” rating in a report on Friday, July 17th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Scotia upped their price target on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and an average price target of C$67.12.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$69.37 on Wednesday. The company has a 50 day simple moving average of C$66.98 and a two-hundred day simple moving average of C$64.42. Canadian Natural Resources has a fifty-two week low of C$41.67 and a fifty-two week high of C$72.35. The company has a market capitalization of C$143.01 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 0.53 and a beta of 0.32. The company has a debt-to-equity ratio of 36.64, a quick ratio of 0.54 and a current ratio of 1.00.

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. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%.The firm had revenue of C$14.74 billion for the quarter. Analysts expect that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown purchased 709 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average cost of C$70.44 per share, for a total transaction of C$49,941.96. Following the completion of the transaction, the director owned 1,780 shares of the company’s stock, valued at approximately C$125,383.20. The trade was a 66.20% increase in their ownership of the stock. Corporate insiders own 4.26% of the company’s stock.

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.