Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$85.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by ATB Cormark Capital Markets from C$70.00 to C$85.00 in a research note published on Thursday,BayStreet reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on the stock. Canadian Imperial Bank of Commerce lifted their price objective on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a research note on Thursday, August 27th. JPMorgan Chase & Co. boosted their price objective on shares of Canadian Natural Resources from C$67.00 to C$75.00 in a report on Wednesday, August 12th. Gerdes Energy Research raised shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from C$67.00 to C$69.00 in a research note on Monday, June 29th. TD upped their target price on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$70.00.

Canadian Natural Resources Trading Up 2.1%

TSE:CNQ opened at C$77.12 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. Canadian Natural Resources has a 1-year low of C$41.68 and a 1-year high of C$77.70. The firm has a market capitalization of C$158.98 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.53 and a beta of 0.38. The business’s 50-day moving average price is C$70.39 and its two-hundred day moving average price is C$65.35.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The company had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. On average, equities analysts expect that Canadian Natural Resources will post 3.83 earnings per share for the current year.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown purchased 709 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of C$70.44 per share, for a total transaction of C$49,941.96. Following the completion of the acquisition, the director directly owned 1,780 shares of the company’s stock, valued at C$125,383.20. The trade was a 66.20% increase in their ownership of the stock. Insiders own 4.26% of the company’s stock.

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.