Raymond James Financial Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$66.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price upped by stock analysts at Raymond James Financial from C$65.00 to C$66.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective points to a potential upside of 3.89% from the company’s current price.

Several other research analysts also recently weighed in on CNQ. Royal Bank Of Canada dropped their target price on Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. Scotia increased their price target on Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Friday. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Desjardins set a C$70.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a research note on Friday, July 17th. Finally, TD upped their price objective on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$65.35.

Canadian Natural Resources Stock Down 0.5%

Shares of TSE CNQ traded down C$0.30 during trading hours on Friday, hitting C$63.53. 2,195,584 shares of the stock were exchanged, compared to its average volume of 14,813,485. Canadian Natural Resources has a 12 month low of C$40.62 and a 12 month high of C$70.99. The firm has a fifty day moving average price of C$61.39 and a 200-day moving average price of C$61.06. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85. The company has a market cap of C$132.51 billion, a PE ratio of 12.31, a PEG ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results 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 for the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. On average, sell-side analysts expect that Canadian Natural Resources will post 3.833989 EPS for the current year.

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.