Canadian Natural Resources (TSE:CNQ) Stock Rating Lowered by Evercore Partners

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by stock analysts at Evercore Partners from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$50.00 price objective on the stock. Evercore Partners’ price objective indicates a potential upside of 15.34% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial boosted their price target on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Scotiabank lifted their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Desjardins set a C$52.00 target price on Canadian Natural Resources and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada set a C$62.00 price target on Canadian Natural Resources and gave the company an “outperform” rating in a report on Thursday, November 20th. Finally, Wells Fargo & Company set a C$47.00 price target on Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$53.90.

Canadian Natural Resources Stock Down 2.1%

Shares of CNQ traded down C$0.93 during trading hours on Tuesday, reaching C$43.35. The company’s stock had a trading volume of 5,612,541 shares, compared to its average volume of 16,937,939. The company has a 50 day moving average of C$45.81 and a two-hundred day moving average of C$44.21. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. The firm has a market cap of C$90.30 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.53 and a beta of 0.71. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$49.20.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The firm had revenue of C$9.52 billion for the quarter. As a group, research analysts predict that Canadian Natural Resources 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.