Canadian Natural Resources (TSE:CNQ) Given a C$70.00 Price Target at Desjardins

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) has been given a C$70.00 price objective by equities researchers at Desjardins in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ price objective points to a potential upside of 14.40% from the company’s current price.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. lifted their target price on Canadian Natural Resources from C$48.00 to C$70.00 in a research note on Tuesday, April 7th. National Bank Financial raised their price target on Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a report on Tuesday, March 31st. Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$64.88.

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Canadian Natural Resources Stock Performance

TSE:CNQ traded up C$0.99 during mid-day trading on Friday, hitting C$61.19. The stock had a trading volume of 2,722,381 shares, compared to its average volume of 15,678,995. Canadian Natural Resources has a twelve month low of C$40.62 and a twelve month high of C$70.99. The stock has a market cap of C$127.62 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.53 and a beta of 0.27. The company’s 50 day simple moving average is C$61.58 and its 200 day simple moving average is C$59.09. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. The firm had revenue of C$10.81 billion for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. On average, equities research analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

About Canadian Natural Resources

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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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