Canadian Natural Resources (TSE:CNQ) Stock Price Target Raised at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Canadian Natural Resources’ price target from C$79 to C$86, implying 16.77% upside from the previous close. Analysts overall assign the stock a “Moderate Buy” consensus rating with a C$67.53 target.
• Canadian Natural Resources shares rose 4.0% to C$73.65, near their 52-week high of C$73.87. The company reported C$2.19 in quarterly EPS on C$14.74 billion in revenue.
• Director Shelley Ann Marie Brown bought 709 shares worth approximately C$49,942, increasing her holdings by 66.2%; insiders own 4.26% of the company.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price target raised by Royal Bank Of Canada from C$79.00 to C$86.00 in a research note issued to investors on Tuesday, BayStreet reports. Royal Bank Of Canada's target price points to a potential upside of 16.77% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the company. Desjardins set a C$70.00 price target on Canadian Natural Resources and gave the company a "hold" rating in a research note on Friday, July 17th. TD upped their price target on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Scotia increased their price objective on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Gerdes Energy Research raised shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating and raised their price objective for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a report on Thursday, August 27th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$67.53.

Canadian Natural Resources Stock Up 4.0%

TSE:CNQ traded up C$2.85 during trading hours on Tuesday, reaching C$73.65. 3,797,745 shares of the company traded hands, compared to its average volume of 15,071,756. The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. The business's 50-day moving average price is C$68.53 and its two-hundred day moving average price is C$64.82. Canadian Natural Resources has a 1 year low of C$41.67 and a 1 year high of C$73.87. The stock has a market capitalization of C$151.83 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.53 and a beta of 0.38.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last announced its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share for the quarter. The company 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%. Analysts predict that Canadian Natural Resources will post 3.83 earnings per share for the current year.

Insider Transactions at Canadian Natural Resources

In related news, Director Shelley Ann Marie Brown purchased 709 shares of Canadian Natural Resources stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of C$70.44 per share, for a total transaction of C$49,941.96. Following the acquisition, the director owned 1,780 shares in the company, valued at approximately C$125,383.20. The trade was a 66.20% increase in their position. 4.26% of the stock is currently owned by company insiders.

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.

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