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

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$70.00.

A number of equities analysts have commented on the stock. National Bank Financial upped their price objective on shares of Canadian Natural Resources from C$84.00 to C$86.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 20th. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$67.00 to C$69.00 in a research note on Monday, June 29th. TD lifted 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 report on Friday, August 7th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a report on Thursday, August 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Canadian Natural Resources from C$79.00 to C$86.00 in a research note on Tuesday, October 13th.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock opened at C$77.12 on Friday. Canadian Natural Resources has a 12 month low of C$41.68 and a 12 month high of C$77.70. The company has a debt-to-equity ratio of 36.64, a current ratio of 1.00 and a quick ratio of 0.54. The business has a 50 day simple moving average of C$70.39 and a 200-day simple moving average of C$65.33. The stock has a market capitalization of C$158.98 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share 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 during the quarter. Equities analysts predict that Canadian Natural Resources will post 3.83 earnings per share for the current year.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown acquired 709 shares of the stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of C$70.44 per share, with a total value of C$49,941.96. Following the acquisition, the director owned 1,780 shares of the company’s stock, valued at C$125,383.20. This trade represents a 66.20% increase in their ownership of the stock. 4.26% of the stock is currently owned by insiders.

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.