Scotiabank Forecasts Strong Price Appreciation for Canadian Natural Resources (TSE:CNQ) Stock

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target hoisted by stock analysts at Scotiabank from C$58.00 to C$62.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential downside of 1.52% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. ATB Cormark Capital Markets increased their price objective on shares of Canadian Natural Resources from C$56.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday. Desjardins set a C$52.00 target price on shares of Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. BMO Capital Markets raised their price target on Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank Of Canada upped their price objective on Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday. Finally, Morgan Stanley decreased their price objective on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.42.

Canadian Natural Resources Stock Performance

Shares of TSE:CNQ opened at C$62.96 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 44.46. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$64.00. The stock has a market capitalization of C$131.15 billion, a P/E ratio of 19.86, a P/E/G ratio of 0.53 and a beta of 0.81. The business has a 50-day moving average price of C$51.86 and a two-hundred day moving average price of C$47.20.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. Equities analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Trevor Wagil sold 14,500 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total value of C$724,420.00. Following the completion of the transaction, the insider directly owned 14,779 shares in the company, valued at approximately C$738,358.84. The trade was a 49.52% decrease in their position. Also, insider Brenda Gayle Balog sold 2,252 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the sale, the insider directly owned 47,965 shares of the company’s stock, valued at C$2,397,290.70. This represents a 4.48% decrease in their position. Insiders sold 51,775 shares of company stock worth $2,571,074 in the last three months. 4.26% of the stock is owned by corporate insiders.

Key Canadian Natural Resources News

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Q4 earnings beat and higher production; CNQ reported C$0.82 EPS and better-than-expected volumes, supporting near-term cash generation and margins. Article Title
• Positive Sentiment: Dividend increased — board approved a higher quarterly dividend, extending a 26-year dividend growth streak, which underpins the stock’s income appeal for yield-focused investors. Article Title
• Positive Sentiment: BMO raised its price target sharply to C$70 (now an outperform), signaling meaningful upside vs. the current price and a constructive view on CNQ’s outlook. BayStreet.CA
• Positive Sentiment: RBC raised its target to C$65 (outperform), and TD Securities lifted its target to C$64 with a buy rating — both imply modest upside and reinforce the buy-side momentum. BayStreet.CA Tickerreport.com
• Positive Sentiment: ATB Cormark also raised its target to C$65 (outperform), and TD Cowen reiterated/maintained a buy view with a C$64 target, backing expectations for continued cash returns and debt reduction. BayStreet.CA TipRanks
• Neutral Sentiment: Scotiabank bumped its target to C$62 with an outperform rating, but the target sits slightly below the current price, creating mixed signal on near-term upside. BayStreet.CA
• Neutral Sentiment: Market commentary highlights energy-sector strength amid higher oil prices — supportive macro backdrop for CNQ but sector moves can be volatile. BNN Bloomberg
• Neutral Sentiment: Company to defer the Jackpine mine expansion — reduces near-term capex but may temper longer-term growth expectations; investors will weigh cash returns vs. growth trade-offs. Seeking Alpha
• Negative Sentiment: National Bank Financial raised its target to C$59 but kept a sector perform rating; that target implies a ~6% downside to the current price, signaling a more cautious view. BayStreet.CA
• Negative Sentiment: Raymond James lifted its target to C$55 (outperform) but the level still implies a material downside vs. the current price, reflecting divergent analyst views. BayStreet.CA

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.