Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$75.00

Canadian Natural Resources (TSE:CNQ – Free Report) (NYSE:CNQ) had its price objective lifted by JPMorgan Chase & Co. from C$67.00 to C$75.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Several other analysts also recently issued reports on the company. Scotia raised their price target on Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Desjardins set a C$70.00 price objective on Canadian Natural Resources and gave the stock a “hold” rating in a research note on Friday, July 17th. Raymond James Financial increased their target price on Canadian Natural Resources from C$65.00 to C$66.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Finally, Royal Bank Of Canada reduced their price target on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and an average price target of C$65.65.

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Canadian Natural Resources Stock Performance

Shares of TSE CNQ opened at C$66.41 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The firm’s 50-day moving average price is C$61.53 and its two-hundred day moving average price is C$61.69. Canadian Natural Resources has a 52-week low of C$40.62 and a 52-week high of C$70.99. The stock has a market capitalization of C$136.90 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last issued its earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The company had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. As a group, sell-side 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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