Canadian Natural Resources (TSE:CNQ) PT Set at C$70.00 by Desjardins

Key Points

• Desjardins initiated/maintained coverage on Canadian Natural Resources with a C$70 target price and a hold rating, implying about 14.4% upside from the current share price.
• Other analysts remain generally positive: the stock has a consensus “Moderate Buy” rating, with seven Buy ratings and five Hold ratings, and an average target price of C$64.88.
• The shares were up 1.6% to C$61.19 on Friday, following quarterly earnings of C$1.17 per share on C$10.81 billion in revenue.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ received a C$70.00 target price from Desjardins in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' target price indicates a potential upside of 14.40% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reduced their price target on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a report on Wednesday. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. Raymond James Financial raised shares of Canadian Natural Resources from a "hold" rating to a "moderate buy" rating and upped their target price for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. TD increased their target price on Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, National Bank Financial lifted their price target on Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$64.88.

Canadian Natural Resources Trading Up 1.6%

Shares of Canadian Natural Resources stock traded up C$0.99 during trading hours on Friday, hitting C$61.19. The company's stock had a trading volume of 2,722,381 shares, compared to its average volume of 15,678,995. The company has a market capitalization of C$127.62 billion, a PE ratio of 11.86, a price-to-earnings-growth 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 stock has a 50 day moving average of C$61.58 and a 200 day moving average of C$59.09. Canadian Natural Resources has a 12 month low of C$40.62 and a 12 month high of C$70.99.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released 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 business had revenue of C$10.81 billion for the quarter. 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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