Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) Price Target at C$65.35

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$65.35.

A number of equities analysts have recently commented on the stock. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Desjardins set a C$70.00 target price on shares of Canadian Natural Resources and gave the company a “hold” rating in a research note on Friday, July 17th. Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Royal Bank Of Canada cut their price target on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. Finally, Scotia lifted their price objective on Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a report on Friday, August 7th.

Canadian Natural Resources Stock Up 0.7%

Shares of CNQ stock opened at C$66.32 on Friday. The stock has a market cap of C$136.72 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a one year low of C$40.62 and a one year high of C$70.99. The stock has a fifty day moving average price of C$61.47 and a 200 day moving average price of C$61.42. The company has a debt-to-equity ratio of 36.64, a current ratio of 1.00 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share for the quarter. The firm had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. Analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current 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.