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

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective cut by investment analysts at Morgan Stanley from C$51.00 to C$50.00 in a research note issued on Friday,BayStreet.CA reports. Morgan Stanley’s target price would suggest a potential upside of 1.32% from the stock’s current price.

Several other research firms have also commented on CNQ. Scotiabank lifted their price target on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Wells Fargo & Company set a C$47.00 price target on Canadian Natural Resources and gave the stock an “equal weight” rating in a report on Friday, October 17th. Royal Bank Of Canada reduced 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 research report on Tuesday, January 13th. Raymond James Financial increased their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. Finally, Evercore ISI downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$53.36.

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded up C$0.46 on Friday, hitting C$49.35. 2,340,299 shares of the stock traded hands, compared to its average volume of 15,423,016. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a market capitalization of C$102.80 billion, a PE ratio of 15.57, a PEG ratio of 0.53 and a beta of 0.71. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$49.95. The company’s fifty day moving average is C$46.22 and its 200 day moving average is C$44.44.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. The firm had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. On average, equities research analysts predict that Canadian Natural Resources will post 3.833989 earnings per share 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.