Raymond James Financial Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lifted by Raymond James Financial from C$65.00 to C$66.00 in a research report released on Friday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. TD lifted their price target on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a report on Friday. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their target price for the company from C$67.00 to C$69.00 in a research report on Monday, June 29th. Desjardins set a C$70.00 target price on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research note on Friday, July 17th. Scotia upped their price target on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Royal Bank Of Canada dropped their price target on Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$65.35.

Canadian Natural Resources Stock Performance

Canadian Natural Resources stock opened at C$63.45 on Friday. Canadian Natural Resources has a 12-month low of C$40.62 and a 12-month high of C$70.99. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85. The business’s 50-day moving average price is C$61.41 and its two-hundred day moving average price is C$61.08. The stock has a market cap of C$132.34 billion, a PE ratio of 12.30, a P/E/G ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The firm had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. As a group, analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Key Canadian Natural Resources News

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Analysts raised their targets: TD increased its price target from C$72 to C$73 and assigned a “buy” rating. Raymond James lifted its target from C$65 to C$66 and maintained an “outperform” rating, while Scotia raised its target from C$71 to C$73 with a “sector perform” rating. The revisions imply potential upside from recent trading levels. BayStreet analyst ratings
• Positive Sentiment: Dividend growth continued: Canadian Natural Resources announced a new quarterly payout, extending its dividend-growth streak to 26 years. The announcement reinforces the company’s appeal to income-focused investors and signals confidence in ongoing cash generation. Dividend announcement
• Positive Sentiment: Quarterly profitability remained strong: CNQ reported C$2.19 in EPS and C$14.74 billion in revenue, with a 24.51% net margin and 22.74% return on equity. A separate earnings update described higher second-quarter adjusted earnings, providing a favorable fundamental backdrop. Second-quarter earnings update
• Neutral Sentiment: The stock’s decline suggests investors may be taking profits or looking for additional detail on the earnings outlook, despite the positive analyst revisions, dividend increase and solid reported results. CNQ remains sensitive to crude oil prices and broader energy-sector sentiment.

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.