Canadian Natural Resources Limited (TSE:CNQ) Receives Average Rating of “Moderate Buy” from Analysts

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$63.73.

CNQ has been the subject of several analyst reports. TD lifted their price objective on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Scotiabank lifted their price objective on Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Jefferies Financial Group lifted their price objective on Canadian Natural Resources from C$48.00 to C$59.00 in a report on Monday, March 16th. JPMorgan Chase & Co. lifted their price target on Canadian Natural Resources from C$48.00 to C$70.00 in a research note on Tuesday, April 7th. 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.

Canadian Natural Resources Price Performance

Shares of TSE CNQ opened at C$56.06 on Friday. The stock has a market capitalization of C$116.92 billion, a PE ratio of 10.86, a P/E/G ratio of 0.53 and a beta of 0.24. 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 business has a fifty day moving average price of C$62.93 and a two-hundred day moving average price of C$57.66. Canadian Natural Resources has a fifty-two week low of C$40.62 and a fifty-two week high of C$70.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. The firm had revenue of C$10.81 billion during the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. As a group, equities analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal 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.