Royal Bank Of Canada Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$79.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price trimmed by Royal Bank Of Canada from C$80.00 to C$79.00 in a research note published on Wednesday morning,BayStreet.CA reports.

A number of other brokerages have also issued reports on CNQ. 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 report on Thursday, May 7th. National Bank Financial raised their target price on Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 31st. TD boosted their price target on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Canadian Natural Resources from C$48.00 to C$70.00 in a research report on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$64.88.

Canadian Natural Resources Trading Up 2.0%

Shares of CNQ opened at C$61.42 on Wednesday. The firm has a market cap of C$128.10 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.53 and a beta of 0.27. The firm has a 50 day moving average price of C$61.59 and a 200-day moving average price of C$59.11. Canadian Natural Resources has a fifty-two week low of C$40.62 and a fifty-two week high of C$70.99. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly 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 during the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. As a group, equities research analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

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.