Royal Bank Of Canada Lowers Canadian Natural Resources (TSE:CNQ) Price Target to C$61.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective decreased by research analysts at Royal Bank Of Canada from C$62.00 to C$61.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 32.44% from the company’s current price.

Several other brokerages have also commented on CNQ. Evercore ISI lowered Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Evercore Partners lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating and set a C$50.00 price target on the stock. in a research note on Tuesday, January 6th. Scotiabank increased their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. National Bankshares reduced their price objective on shares of Canadian Natural Resources from C$48.00 to C$47.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Desjardins set a C$52.00 target price on shares of Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. Three 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, Canadian Natural Resources currently has a consensus rating of “Hold” and a consensus target price of C$53.70.

Canadian Natural Resources Trading Up 2.8%

Shares of TSE:CNQ traded up C$1.25 during trading on Tuesday, reaching C$46.06. The stock had a trading volume of 5,495,890 shares, compared to its average volume of 21,021,199. Canadian Natural Resources has a 52 week low of C$34.92 and a 52 week high of C$49.20. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The firm’s fifty day moving average is C$45.73 and its 200 day moving average is C$44.20. The stock has a market cap of C$95.95 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 0.53 and a beta of 0.71.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (EPS) for the quarter. The business had revenue of C$9.52 billion for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. As a group, equities analysts forecast that Canadian Natural Resources will post 3.833989 EPS 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.