TD Securities Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$44.00
Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by research analysts at TD Securities from C$41.00 to C$44.00 in a research note issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 19.11% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Wells Fargo & Co downgraded Canadian Natural Resources from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from C$38.00 to C$29.00 in a research report on Friday, September 6th. Raymond James reaffirmed an “outperform” rating and issued a C$40.00 price objective on shares of Canadian Natural Resources in a research report on Friday. CSFB lowered their price objective on Canadian Natural Resources from C$50.00 to C$48.00 in a research report on Thursday, August 29th. CIBC lowered their price objective on Canadian Natural Resources from C$48.00 to C$46.00 in a research report on Tuesday, October 15th. Finally, Evercore lowered their price objective on Canadian Natural Resources from C$48.00 to C$42.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of C$44.29.
Shares of TSE:CNQ opened at C$36.94 on Friday. The company has a market cap of $41.12 billion and a P/E ratio of 10.95. The company has a quick ratio of 0.40, a current ratio of 0.60 and a debt-to-equity ratio of 64.64. Canadian Natural Resources has a 52 week low of C$30.01 and a 52 week high of C$42.56. The business has a fifty day simple moving average of C$34.30 and a 200-day simple moving average of C$34.74.
About Canadian Natural Resources
Canadian Natural Resources Limited explores for, develops, produces, and markets crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
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