Canadian Natural Resources (TSE:CNQ) Releases Earnings Results

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) issued its quarterly earnings results on Thursday. The company reported C$2.19 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%.

Canadian Natural Resources Stock Up 1.6%

Shares of TSE CNQ traded up C$0.98 during trading hours on Thursday, hitting C$63.83. The stock had a trading volume of 8,231,249 shares, compared to its average volume of 14,898,293. The company has a market capitalization of C$133.13 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.53 and a beta of 0.27. The firm’s 50-day moving average price is C$61.38 and its two-hundred day moving average price is C$60.95. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98.

Analyst Ratings Changes

Several research firms have weighed in on CNQ. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. 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. TD raised their price target on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Raymond James Financial raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from C$65.00 to C$67.00 in a research report on Thursday, May 7th. Finally, Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from C$67.00 to C$69.00 in a research note on Monday, June 29th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$64.88.

Canadian Natural Resources Company Profile

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.