Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$79.00 by Analysts at Royal Bank Of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target reduced by equities research analysts at Royal Bank Of Canada from C$80.00 to C$79.00 in a report released on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s price objective would suggest a potential upside of 31.97% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$67.00 to C$69.00 in a research report on Monday, June 29th. TD upped their price objective on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. National Bank Financial increased their price objective on Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 31st. Finally, Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$64.00.

Canadian Natural Resources Stock Performance

CNQ stock traded down C$0.14 on Wednesday, hitting C$59.86. The company’s stock had a trading volume of 2,121,098 shares, compared to its average volume of 15,772,537. The firm has a 50 day moving average of C$61.64 and a two-hundred day moving average of C$58.88. Canadian Natural Resources has a 1 year low of C$40.62 and a 1 year high of C$70.99. The stock has a market cap of C$124.85 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. The company has a current ratio of 0.98, a quick ratio of 0.54 and a debt-to-equity ratio of 44.85.

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