Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$66.00 at Raymond James Financial

Key Points

• Raymond James raised Canadian Natural Resources’ price target from C$65.00 to C$66.00 while maintaining an “outperform” rating, implying 3.89% upside from the prior close.
• Analyst sentiment remains generally positive, with seven “buy” ratings and six “hold” ratings; the consensus rating is “Moderate Buy” with a C$65.35 target price.
• Shares fell 0.5% to C$63.53 in Friday trading. The company recently reported C$2.19 in quarterly EPS and C$14.74 billion in revenue.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price objective lifted by analysts at Raymond James Financial from C$65.00 to C$66.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price suggests a potential upside of 3.89% from the stock's previous close.

Several other research analysts also recently commented on CNQ. Scotiabank raised shares of Canadian Natural Resources to a "hold" rating in a research note on Friday, June 26th. TD upped their target price on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a "buy" rating in a research note on Friday. Royal Bank Of Canada reduced their target price on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a research report on Wednesday, July 15th. Scotia lifted their price target on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$65.35.

Canadian Natural Resources Trading Down 0.5%

Shares of Canadian Natural Resources stock traded down C$0.30 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 firm has a market cap of C$132.51 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.53 and a beta of 0.27. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54. The firm's 50-day moving average price is C$61.39 and its two-hundred day moving average price is C$61.06. Canadian Natural Resources has a 1 year low of C$40.62 and a 1 year high of C$70.99.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released 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 for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. As a group, research analysts predict 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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