Canadian Natural Resources Limited (TSE:CNQ) Receives C$66.88 Average PT from Brokerages

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$66.88.

Several equities analysts recently weighed in on the stock. Desjardins set a C$70.00 target price on shares of Canadian Natural Resources and gave the company a “hold” rating in a research note on Friday, July 17th. TD boosted their price target on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada dropped their price objective on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday, July 15th. Scotia raised their price objective on Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Finally, Scotiabank raised Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th.

Canadian Natural Resources Stock Up 1.1%

TSE CNQ opened at C$70.91 on Thursday. The stock’s 50 day moving average is C$65.26 and its 200 day moving average is C$63.88. The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. Canadian Natural Resources has a 12 month low of C$41.67 and a 12 month high of C$72.29. The stock has a market cap of C$146.18 billion, a PE ratio of 12.62, a P/E/G ratio of 0.53 and a beta of 0.32.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The business had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. Research analysts predict that Canadian Natural Resources will post 3.833989 EPS for the current fiscal 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.