Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) Price Target at C$64.06

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$64.88.

CNQ has been the subject of several research reports. Raymond James Financial raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and raised their price target for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. JPMorgan Chase & Co. increased their target price on shares of Canadian Natural Resources from C$48.00 to C$70.00 in a report on Tuesday, April 7th. TD raised their target price on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Desjardins set a C$70.00 price target on shares of Canadian Natural Resources and gave the company a “hold” rating in a research note on Friday.

Canadian Natural Resources Stock Up 2.0%

CNQ stock opened at C$61.42 on Wednesday. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54. The stock has a market capitalization of C$128.10 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a fifty-two week low of C$40.62 and a fifty-two week high of C$70.99. The business has a 50-day moving average of C$61.59 and a 200-day moving average of C$59.11.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share (EPS) for the quarter. The business had revenue of C$10.81 billion for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. On average, sell-side analysts anticipate 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.