Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) had its price target boosted by research analysts at Canadian Imperial Bank of Commerce from C$70.00 to C$75.00 in a note issued to investors on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 8.32% from the company’s previous close.
A number of other brokerages also recently commented on CNQ. Scotia upped their price objective on 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. Royal Bank Of Canada dropped their price objective on Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. TD raised their price target on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of C$66.88.
Get Our Latest Stock Analysis on CNQ
Canadian Natural Resources Trading Up 0.4%
Canadian Natural Resources (TSE:CNQ – Get Free Report) (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 net margin of 24.93% and a return on equity of 26.67%. The company had revenue of C$14.74 billion for the quarter. As a group, equities research analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share 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.
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