Canadian Natural Resources Limited (TSE:CNQ) Stock Has Consensus Price Target of C$70.00 According to Analysts

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$70.00.

A number of brokerages recently issued reports on CNQ. TD upped their price target on shares of 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. ATB Cormark Capital Markets raised their price objective on shares of Canadian Natural Resources from C$70.00 to C$85.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Scotia raised their price objective on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Desjardins lifted their target price on shares of Canadian Natural Resources from C$73.00 to C$74.00 and gave the stock a “hold” rating in a report on Tuesday, October 20th. Finally, Raymond James Financial downgraded shares of Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$70.00 to C$69.00 in a research note on Wednesday, October 14th.

Canadian Natural Resources Stock Down 1.6%

Shares of TSE:CNQ opened at C$75.95 on Friday. 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 stock has a fifty day simple moving average of C$70.69 and a two-hundred day simple moving average of C$63.21. Canadian Natural Resources has a 12-month low of C$41.68 and a 12-month high of C$77.70. The stock has a market capitalization of C$156.57 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.53 and a beta of 0.38.

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

Insider Buying and Selling at Canadian Natural Resources

In other news, Director Shelley Ann Marie Brown acquired 709 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director directly owned 1,780 shares in the company, valued at approximately C$125,383.20. The trade was a 66.20% increase in their ownership of the stock. 4.26% of the stock is owned by company insiders.

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.