Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$73.00 at TD

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by TD from C$72.00 to C$73.00 in a report published on Friday morning,BayStreet.CA reports. TD currently has a buy rating on the stock.

Several other brokerages have also recently commented on CNQ. Raymond James Financial raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$65.00 to C$67.00 in a research report on Thursday, May 7th. Desjardins set a C$70.00 target price on Canadian Natural Resources and gave the company a “hold” rating in a research report on Friday, July 17th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. 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 report on Friday. Finally, Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from C$67.00 to C$69.00 in a research report on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$65.35.

Canadian Natural Resources Price Performance

TSE CNQ opened at C$63.45 on Friday. The firm’s 50 day moving average is C$61.41 and its 200-day moving average is C$61.08. 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 capitalization of C$132.34 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a 12-month low of C$40.62 and a 12-month high of C$70.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The business had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a net margin of 24.51% and a return on equity of 22.74%. Equities research analysts anticipate that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Key Canadian Natural Resources News

Here are the key news stories impacting Canadian Natural Resources this week:

• Positive Sentiment: Analysts raised their targets: TD increased its price target from C$72 to C$73 and assigned a “buy” rating. Raymond James lifted its target from C$65 to C$66 and maintained an “outperform” rating, while Scotia raised its target from C$71 to C$73 with a “sector perform” rating. The revisions imply potential upside from recent trading levels. BayStreet analyst ratings
• Positive Sentiment: Dividend growth continued: Canadian Natural Resources announced a new quarterly payout, extending its dividend-growth streak to 26 years. The announcement reinforces the company’s appeal to income-focused investors and signals confidence in ongoing cash generation. Dividend announcement
• Positive Sentiment: Quarterly profitability remained strong: CNQ reported C$2.19 in EPS and C$14.74 billion in revenue, with a 24.51% net margin and 22.74% return on equity. A separate earnings update described higher second-quarter adjusted earnings, providing a favorable fundamental backdrop. Second-quarter earnings update
• Neutral Sentiment: The stock’s decline suggests investors may be taking profits or looking for additional detail on the earnings outlook, despite the positive analyst revisions, dividend increase and solid reported results. CNQ remains sensitive to crude oil prices and broader energy-sector sentiment.

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.