Royal Bank Of Canada Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$80.00

Key Points

• Royal Bank of Canada raised its price target for Canadian Natural Resources to C$80.00 (from C$65.00) and maintained an "outperform" rating, implying about a 25% upside from current levels.
• Despite multiple analyst updates, the sell‑side consensus remains a "Hold" with a consensus price target of C$63.00, while CNQ traded near C$63.89 and sits within a 12‑month range of C$34.92–C$70.99.
• Canadian Natural posted solid quarterly results — C$0.82 EPS on C$9.61 billion revenue, with a ~26% net margin and ~26% ROE — underscoring strong profitability amid mixed analyst views.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ had its price objective increased by analysts at Royal Bank Of Canada from C$65.00 to C$80.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 25.22% from the company's current price.

CNQ has been the subject of several other reports. Evercore lowered Canadian Natural Resources from an "outperform" rating to a "hold" rating and set a C$50.00 target price for the company. in a research note on Tuesday, January 6th. Scotiabank upped their target price on Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an "outperform" rating in a research note on Friday, March 6th. TD Securities upped their target price on Canadian Natural Resources from C$51.00 to C$64.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Desjardins upped their target price on Canadian Natural Resources from C$52.00 to C$56.00 and gave the company a "hold" rating in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. upped their target price on Canadian Natural Resources from C$48.00 to C$70.00 in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$63.00.

Canadian Natural Resources Price Performance

Shares of TSE CNQ traded down C$4.34 during trading on Wednesday, reaching C$63.89. The company had a trading volume of 6,915,500 shares, compared to its average volume of 16,455,045. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$70.99. The stock has a market capitalization of C$133.33 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40. The stock has a 50-day moving average price of C$60.67 and a two-hundred day moving average price of C$50.86. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 44.46.

Canadian Natural Resources (TSE:CNQ - Get Free Report) NYSE: CNQ last released its quarterly earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 25.98% and a net margin of 26.06%.The company had revenue of C$9.61 billion during the quarter. As a group, sell-side analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Activity

In other Canadian Natural Resources news, insider Trevor Wagil sold 14,500 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the completion of the sale, the insider owned 14,779 shares of the company's stock, valued at approximately C$738,358.84. The trade was a 49.52% decrease in their ownership of the stock. Also, insider Stephanie Ann Graham sold 1,930 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of C$49.19, for a total value of C$94,936.70. Following the sale, the insider directly owned 16,367 shares of the company's stock, valued at approximately C$805,092.73. This trade represents a 10.55% decrease in their position. Insiders have sold 74,306 shares of company stock valued at $4,159,750 in the last 90 days. 4.26% of the stock is owned by corporate 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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