Canadian Natural Resources (TSE:CNQ) Price Target Lowered to C$50.00 at Morgan Stanley

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective dropped by stock analysts at Morgan Stanley from C$51.00 to C$50.00 in a report released on Friday,BayStreet.CA reports. Morgan Stanley’s price target would suggest a potential upside of 1.32% from the company’s current price.

CNQ has been the topic of a number of other reports. Raymond James Financial lifted their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Evercore ISI cut shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. TD Securities boosted their target price on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. Scotiabank increased their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Desjardins set a C$52.00 price target on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Three 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, the stock currently has an average rating of “Hold” and a consensus target price of C$53.36.

Canadian Natural Resources Price Performance

CNQ traded up C$0.46 during trading on Friday, reaching C$49.35. The stock had a trading volume of 2,340,299 shares, compared to its average volume of 15,423,016. The stock has a 50 day moving average of C$46.22 and a two-hundred day moving average of C$44.44. 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 capitalization of C$102.80 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth 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$49.95.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%.The company had revenue of C$9.52 billion for 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.