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

Key Points

• Analyst consensus is “Moderate Buy”: Seven of 13 brokerages recommend buying Canadian Natural Resources, while six rate it a hold. The average 12-month price target is C$66.88.
• Shares recently traded at C$71.65, down 0.6%, near the stock’s 52-week high of C$72.29 and above its 50-day and 200-day moving averages.
• Quarterly results were strong: CNQ reported C$2.19 in EPS and C$14.74 billion in revenue, with a 24.93% net margin and 26.67% return on equity.

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ has earned an average recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$66.88.

CNQ has been the topic of a number of recent research reports. Scotiabank upgraded shares of Canadian Natural Resources to a "hold" rating in a research note on Friday, June 26th. Raymond James Financial raised their price objective on shares of Canadian Natural Resources from C$65.00 to C$66.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Scotia lifted their price objective on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Canadian Natural Resources from C$67.00 to C$75.00 in a research note on Wednesday, August 12th. Finally, Desjardins set a C$70.00 target price on shares of Canadian Natural Resources and gave the stock a "hold" rating in a report on Friday, July 17th.

Canadian Natural Resources Trading Down 0.6%

Shares of TSE CNQ opened at C$71.65 on Thursday. 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 stock has a market capitalization of C$147.71 billion, a PE ratio of 12.75, a PEG ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a twelve month low of C$41.67 and a twelve month high of C$72.29. The stock has a fifty day simple moving average of C$63.84 and a 200-day simple moving average of C$63.39.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last announced its earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The company had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. On average, equities analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share for the current 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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