Canadian Natural Resources (TSE:CNQ) Given New C$73.00 Price Target at TD

Key Points

• TD raised its price target for Canadian Natural Resources from C$72.00 to C$73.00 while maintaining a “buy” rating, implying approximately 14.9% upside from the prior close.
• Analyst sentiment is broadly positive, with seven analysts rating the stock “buy” and six assigning “hold” ratings; MarketBeat’s consensus view is “Moderate Buy,” with an average price target of C$65.35.
• CNQ shares fell 0.5% to C$63.53 in Friday trading. The company recently reported quarterly EPS of C$2.19 and revenue of C$14.74 billion, with a 24.51% net margin and 22.74% return on equity.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its target price increased by stock analysts at TD from C$72.00 to C$73.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's price objective suggests a potential upside of 14.91% from the company's previous close.

A number of other equities analysts also recently commented on CNQ. 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. Scotiabank upgraded Canadian Natural Resources to a "hold" rating in a research note on Friday, June 26th. Royal Bank Of Canada decreased their target price on Canadian Natural Resources from C$80.00 to C$79.00 in a research report on Wednesday, July 15th. Gerdes Energy Research upgraded Canadian Natural Resources from a "neutral" rating to a "buy" rating and boosted their price target for the company from C$67.00 to C$69.00 in a report on Monday, June 29th. Finally, Raymond James Financial raised Canadian Natural Resources from a "hold" rating to a "moderate buy" rating and upped their price target for the company from C$65.00 to C$67.00 in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Canadian Natural Resources currently has an average rating of "Moderate Buy" and an average price target of C$65.35.

Canadian Natural Resources Stock Down 0.5%

Shares of TSE:CNQ traded down C$0.30 during midday trading on Friday, reaching C$63.53. The company had a trading volume of 2,195,584 shares, compared to its average volume of 14,813,485. The stock has a market capitalization of C$132.51 billion, a P/E ratio of 12.31, a PEG ratio of 0.53 and a beta of 0.27. The stock's fifty day moving average price is C$61.39 and its 200-day moving average price is C$61.06. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54. Canadian Natural Resources has a one year low of C$40.62 and a one year high of C$70.99.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last announced its quarterly earnings data 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 24.51% and a return on equity of 22.74%. Equities research analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

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.

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