Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$86.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by Royal Bank Of Canada from C$79.00 to C$86.00 in a research report sent to investors on Tuesday,BayStreet reports.

Other equities analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a research report on Thursday, August 27th. Scotia raised their price target on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Raymond James Financial boosted their price objective on shares of Canadian Natural Resources from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Finally, Desjardins set a C$70.00 price objective on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$67.47.

Canadian Natural Resources Stock Down 0.1%

Shares of TSE CNQ opened at C$73.75 on Tuesday. The firm’s 50-day simple moving average is C$69.14 and its 200 day simple moving average is C$64.93. The company has a market cap of C$152.04 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. Canadian Natural Resources has a 12-month low of C$41.67 and a 12-month high of C$74.99.

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

Insider Transactions at Canadian Natural Resources

In other news, Director Shelley Ann Marie Brown purchased 709 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price 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 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 currently owned by corporate 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.