Canadian Natural Resources Limited (TSE:CNQ) Receives C$66.88 Consensus Target Price from Brokerages

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$66.88.

Several brokerages have commented on CNQ. TD raised their price objective on Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Canadian Imperial Bank of Commerce raised their price target on Canadian Natural Resources from C$70.00 to C$75.00 in a report on Thursday, August 27th. Royal Bank Of Canada reduced their price target on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a research report on Wednesday, July 15th. Finally, 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.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at C$69.78 on Thursday. 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 has a 52-week low of C$41.67 and a 52-week high of C$72.29. The stock has a market capitalization of C$143.85 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 0.53 and a beta of 0.32. The company’s 50 day moving average price is C$64.68 and its 200-day moving average price is C$63.70.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results 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 company had revenue of C$14.74 billion for the quarter. Equities research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

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.