Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$74.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price lifted by Desjardins from C$73.00 to C$74.00 in a research note published on Tuesday,BayStreet reports. Desjardins currently has a hold rating on the stock.

A number of other research firms also recently weighed in on CNQ. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from C$67.00 to C$69.00 in a research note on Monday, June 29th. TD increased their price objective on Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their target price on Canadian Natural Resources from C$79.00 to C$86.00 in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of “Moderate Buy” and an average price target of C$70.00.

Canadian Natural Resources Price Performance

Shares of CNQ opened at C$75.50 on Tuesday. Canadian Natural Resources has a twelve month low of C$41.68 and a twelve month high of C$77.60. The stock’s 50 day moving average is C$70.18 and its two-hundred day moving average is C$65.26. The firm has a market capitalization of C$155.64 billion, a PE ratio of 13.43, a P/E/G ratio of 0.53 and a beta of 0.38. 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 (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The company had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. Research analysts anticipate that Canadian Natural Resources will post 3.83 earnings per share for the current year.

Insider Activity

In other news, Director Shelley Ann Marie Brown purchased 709 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of C$70.44 per share, with a total value of C$49,941.96. Following the purchase, the director directly owned 1,780 shares of the company’s stock, valued at C$125,383.20. The trade was a 66.20% increase in their ownership of the stock. Insiders own 4.26% of the company’s stock.

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.