Analysts Set Canadian Natural Resources Limited (TSE:CNQ) PT at C$64.06

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$64.88.

A number of brokerages recently weighed in on CNQ. National Bank Financial raised their target price on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 31st. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Royal Bank Of Canada cut their target price on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a research report on Wednesday, July 15th. Canadian Imperial Bank of Commerce increased their target price on Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. raised their price target on Canadian Natural Resources from C$48.00 to C$70.00 in a research report on Tuesday, April 7th.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$61.42 on Wednesday. The stock’s 50-day simple moving average is C$61.59 and its two-hundred day simple moving average is C$59.20. Canadian Natural Resources has a twelve month low of C$40.62 and a twelve month high of C$70.99. The firm has a market capitalization of C$128.10 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.53 and a beta of 0.27. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%.The firm had revenue of C$10.81 billion during the quarter. As a group, equities analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal 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.