National Bankshares Lowers Canadian Natural Resources (TSE:CNQ) Price Target to C$47.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target reduced by stock analysts at National Bankshares from C$48.00 to C$47.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 5.52% from the stock’s current price.

A number of other research firms have also commented on CNQ. Evercore ISI lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Desjardins set a C$52.00 price objective on Canadian Natural Resources and gave the stock a “hold” rating in a research report on Wednesday, December 17th. TD Securities lifted their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. Evercore Partners downgraded shares of Canadian Natural Resources from an “outperform” rating to an “in-line” rating and set a C$50.00 price objective on the stock. in a research report on Tuesday. Finally, Scotiabank raised their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Canadian Natural Resources currently has a consensus rating of “Hold” and an average price target of C$53.80.

Canadian Natural Resources Trading Up 1.9%

Canadian Natural Resources stock traded up C$0.83 during mid-day trading on Friday, hitting C$44.54. The company’s stock had a trading volume of 3,422,136 shares, compared to its average volume of 22,906,338. The business has a 50 day moving average price of C$45.74 and a 200-day moving average price of C$44.18. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$49.20. The stock has a market cap of C$92.78 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share for the quarter. The company had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. As a group, analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current 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.