Canadian Natural Resources (TSE:CNQ) Hits New 52-Week High – Still a Buy?

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$71.11 and last traded at C$70.97, with a volume of 1206070 shares changing hands. The stock had previously closed at C$69.49.

Analyst Upgrades and Downgrades

CNQ has been the subject of a number of research analyst reports. Scotia boosted their target price on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. TD lifted their price objective on Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce increased their target price on Canadian Natural Resources from C$70.00 to C$75.00 in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada dropped their price target on Canadian Natural Resources from C$80.00 to C$79.00 in a research report on Wednesday, July 15th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and a consensus target price of C$66.88.

Canadian Natural Resources Stock Performance

The firm’s fifty day moving average price is C$63.84 and its 200-day moving average price is C$63.39. The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. The company has a market cap of C$147.71 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. The business had revenue of C$14.74 billion during the quarter. As a group, research analysts forecast that Canadian Natural Resources Limited will post 3.833989 EPS for the current fiscal year.

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.