Canadian Natural Resources Limited (TSE:CNQ) Stock Has Average Target Price of C$67.12 According to Analysts

Key Points

• Analysts give Canadian Natural Resources a “Moderate Buy” consensus: seven analysts recommend buying the stock and six recommend holding it. The average 12-month price target is C$67.12, with several firms recently raising their targets to between C$69 and C$75.
• CNQ opened at C$67.17, near the analyst consensus target, and has traded between C$41.67 and C$72.35 over the past year. The company has a market capitalization of approximately C$138.5 billion and a price-to-earnings ratio of 11.95.
• Canadian Natural Resources reported quarterly EPS of C$2.19 on revenue of C$14.74 billion, with a 24.93% net margin and 26.67% return on equity. Director Shelley Ann Marie Brown also purchased nearly C$50,000 of shares, increasing her position by 66.2%.

Shares of Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ have received a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$67.12.

A number of analysts recently weighed in on CNQ shares. Canadian Imperial Bank of Commerce boosted their target price on Canadian Natural Resources from C$70.00 to C$75.00 in a research report on Thursday, August 27th. Raymond James Financial increased their price target on shares of Canadian Natural Resources from C$66.00 to C$70.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. TD lifted their price target 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, August 7th. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from C$67.00 to C$69.00 in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Canadian Natural Resources from C$67.00 to C$75.00 in a research note on Wednesday, August 12th.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$67.17 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The stock's 50-day simple moving average is C$67.67 and its two-hundred day simple moving average is C$64.65. Canadian Natural Resources has a twelve month low of C$41.67 and a twelve month high of C$72.35. The company has a market capitalization of C$138.47 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.53 and a beta of 0.32.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last posted its quarterly earnings data on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The firm 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%. Research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown purchased 709 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of C$70.44 per share, with a total value of C$49,941.96. Following the completion of the purchase, the director directly owned 1,780 shares of the company's stock, valued at approximately C$125,383.20. This trade represents a 66.20% increase in their position. 4.26% of the stock is currently owned by insiders.

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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