Canadian Natural Resources (TSE:CNQ) Price Target Lowered to C$50.00 at Morgan Stanley

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lowered by Morgan Stanley from C$51.00 to C$50.00 in a research note published on Friday morning,BayStreet.CA reports.

A number of other analysts also recently commented on CNQ. Desjardins set a C$52.00 price target on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research report on Wednesday, December 17th. Evercore ISI cut Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Scotiabank increased their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Evercore Partners cut Canadian Natural Resources from an “outperform” rating to an “in-line” rating and set a C$50.00 price target on the stock. in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada cut their price objective on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus target price of C$53.36.

Canadian Natural Resources Trading Up 1.2%

Shares of CNQ stock opened at C$49.47 on Friday. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$49.95. The firm has a market capitalization of C$103.05 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The stock has a fifty day moving average of C$46.27 and a two-hundred day moving average of C$44.49. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. The company had revenue of C$9.52 billion for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. As a group, research analysts expect that Canadian Natural Resources will post 3.833989 EPS 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.