Canadian Natural Resources (TSE:CNQ) Given New C$74.00 Price Target at Desjardins

by · The Markets Daily

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) had its price objective upped by equities researchers at Desjardins from C$73.00 to C$74.00 in a research report issued on Tuesday, BayStreet reports. The firm currently has a “hold” rating on the stock. Desjardins’ target price would indicate a potential downside of 3.03% from the stock’s current price.

Several other analysts have also recently issued reports on CNQ. Royal Bank Of Canada upped their price objective on shares of Canadian Natural Resources from C$79.00 to C$86.00 in a research note on Tuesday, October 13th. Raymond James Financial lowered shares of Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and decreased their target price for the stock from C$70.00 to C$69.00 in a research note on Wednesday, October 14th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their price target on Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$68.75.

Get Our Latest Stock Report on CNQ

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded down C$0.15 during trading hours on Tuesday, reaching C$76.31. 3,278,196 shares of the company’s stock were exchanged, compared to its average volume of 14,873,748. Canadian Natural Resources has a 1 year low of C$41.67 and a 1 year high of C$77.49. The company has a market capitalization of C$157.31 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. The business has a fifty day moving average of C$69.60 and a two-hundred day moving average of C$65.05. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last issued 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 24.93% and a return on equity of 26.67%. As a group, research analysts predict that Canadian Natural Resources will post 3.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Natural Resources

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

About Canadian Natural Resources

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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.

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