Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective upped by equities researchers at ATB Cormark Capital Markets from C$70.00 to C$85.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s price target would indicate a potential upside of 12.58% from the stock’s current price.

CNQ has been the topic of several other research reports. TD raised their target price on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a report on Friday, August 7th. Royal Bank Of Canada lifted their price target on shares of Canadian Natural Resources from C$79.00 to C$86.00 in a research note on Tuesday, October 13th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Raymond James Financial downgraded shares of Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and dropped their price objective for the company from C$70.00 to C$69.00 in a research report on Wednesday, October 14th. Finally, National Bank Financial increased their price objective on shares of Canadian Natural Resources from C$84.00 to C$86.00 and gave the company a “sector perform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$70.00.

Canadian Natural Resources Stock Down 0.9%

CNQ stock traded down C$0.70 during mid-day trading on Thursday, reaching C$75.50. The company had a trading volume of 4,417,864 shares, compared to its average volume of 14,782,507. The company has a debt-to-equity ratio of 36.64, a quick ratio of 0.54 and a current ratio of 1.00. The company has a market capitalization of C$155.64 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. The firm has a fifty day simple moving average of C$70.00 and a 200 day simple moving average of C$65.20. Canadian Natural Resources has a fifty-two week low of C$41.68 and a fifty-two week high of C$77.60.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. The business had revenue of C$14.74 billion during the quarter. Analysts forecast that Canadian Natural Resources will post 3.83 earnings per share for the current fiscal year.

Insider Transactions at Canadian Natural Resources

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 stock was bought at an average cost of C$70.44 per share, with a total value of C$49,941.96. Following the acquisition, the director directly owned 1,780 shares of the company’s stock, valued at approximately C$125,383.20. This represents a 66.20% increase in their ownership of the stock. 4.26% of the stock is owned by company insiders.

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.