Canadian Natural Resources (TSE:CNQ) PT Set at C$70.00 by Desjardins

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) has been given a C$70.00 target price by research analysts at Desjardins in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential upside of 13.97% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. TD upped their price target 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. National Bank Financial lifted their price target on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 31st. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. increased their price objective on Canadian Natural Resources from C$48.00 to C$70.00 in a report on Tuesday, April 7th. Finally, Canadian Imperial Bank of Commerce raised their target price on Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$64.88.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$61.42 on Friday. The stock’s 50-day moving average is C$61.59 and its 200-day moving average is C$59.11. Canadian Natural Resources has a 1-year low of C$40.62 and a 1-year high of C$70.99. The company has a current ratio of 0.98, a quick ratio of 0.54 and a debt-to-equity ratio of 44.85. The stock has a market cap of C$128.10 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. The business had revenue of C$10.81 billion during the quarter. Equities research analysts anticipate that Canadian Natural Resources will post 3.833989 earnings per share for the current 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.