Scotia Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price upped by Scotia from C$71.00 to C$73.00 in a report released on Friday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

A number of other research firms have also recently issued reports on CNQ. Scotiabank upgraded shares of Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Royal Bank Of Canada dropped their price target on Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. Raymond James Financial upgraded Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$65.00 to C$67.00 in a research report on Thursday, May 7th. Finally, Desjardins set a C$70.00 price objective on Canadian Natural Resources and gave the company a “hold” rating in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$65.35.

Canadian Natural Resources Stock Down 0.6%

CNQ opened at C$63.45 on Friday. The firm has a market cap of C$132.34 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 0.53 and a beta of 0.27. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98. The firm’s 50-day simple moving average is C$61.41 and its 200-day simple moving average is C$61.08. Canadian Natural Resources has a twelve month low of C$40.62 and a twelve month high of C$70.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The firm had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. Equities research analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Key Headlines Impacting Canadian Natural Resources

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

• Positive Sentiment: Analysts raised their targets: TD increased its price target from C$72 to C$73 and assigned a “buy” rating. Raymond James lifted its target from C$65 to C$66 and maintained an “outperform” rating, while Scotia raised its target from C$71 to C$73 with a “sector perform” rating. The revisions imply potential upside from recent trading levels. BayStreet analyst ratings
• Positive Sentiment: Dividend growth continued: Canadian Natural Resources announced a new quarterly payout, extending its dividend-growth streak to 26 years. The announcement reinforces the company’s appeal to income-focused investors and signals confidence in ongoing cash generation. Dividend announcement
• Positive Sentiment: Quarterly profitability remained strong: CNQ reported C$2.19 in EPS and C$14.74 billion in revenue, with a 24.51% net margin and 22.74% return on equity. A separate earnings update described higher second-quarter adjusted earnings, providing a favorable fundamental backdrop. Second-quarter earnings update
• Neutral Sentiment: The stock’s decline suggests investors may be taking profits or looking for additional detail on the earnings outlook, despite the positive analyst revisions, dividend increase and solid reported results. CNQ remains sensitive to crude oil prices and broader energy-sector sentiment.

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.