Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$75.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price hoisted by Canadian Imperial Bank of Commerce from C$70.00 to C$75.00 in a report released on Thursday,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the company. Scotia lifted their target price on Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. TD raised their price objective on Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their target price on Canadian Natural Resources from C$67.00 to C$75.00 in a research note on Wednesday, August 12th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$66.88.

Canadian Natural Resources Price Performance

TSE CNQ opened at C$68.14 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The stock has a market capitalization of C$140.47 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. The company has a 50 day moving average price of C$63.04 and a two-hundred day moving average price of C$62.97. Canadian Natural Resources has a 12-month low of C$41.67 and a 12-month high of C$70.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%.The company had revenue of C$14.74 billion during the quarter. As a group, equities analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Canadian Natural Resources Company Profile

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.