Canadian Natural Resources Limited (TSE:CNQ) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Canadian Natural Resources has a consensus analyst rating of “Moderate Buy”, based on 12 covering brokerages: seven rate it a buy and five a hold. The average 12-month price target is C$64.06.
• Several analysts recently adjusted their views, including TD raising its target to C$72 and Gerdes Energy Research upgrading the stock to buy. Raymond James also lifted its rating to moderate buy.
• The stock was trading down 1.6% at C$60.00, while the company reported quarterly EPS of C$1.17 and revenue of C$10.81 billion. Canadian Natural Resources remains a major oil and gas producer with large reserves and a market cap of about C$125.14 billion.

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ have received a consensus rating of "Moderate Buy" from the twelve brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$64.06.

A number of research analysts recently issued reports on the stock. Scotiabank raised shares of Canadian Natural Resources to a "hold" rating in a research report on Friday, June 26th. TD lifted their price target on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating and upped their target price for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Finally, Raymond James Financial upgraded Canadian Natural Resources from a "hold" rating to a "moderate buy" rating and raised their price target for the company from C$65.00 to C$67.00 in a report on Thursday, May 7th.

Canadian Natural Resources Trading Down 1.6%

TSE:CNQ opened at C$60.00 on Wednesday. The company has a fifty day moving average of C$61.64 and a 200 day moving average of C$58.88. The firm has a market capitalization of C$125.14 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.53 and a beta of 0.27. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last issued its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%.The firm had revenue of C$10.81 billion for the quarter. On average, research analysts predict that Canadian Natural Resources will post 3.833989 earnings per share 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.

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