Desjardins Analysts Give Canadian Natural Resources (TSE:CNQ) a C$70.00 Price Target

Desjardins set a C$70.00 price target on Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a report published on Friday, Marketbeat reports. The firm currently has a hold rating on the stock.

Several other brokerages also recently commented on CNQ. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a report on Friday, June 26th. TD boosted their price objective on shares of Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Raymond James Financial raised shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and upped their price objective for the stock from C$65.00 to C$67.00 in a report on Thursday, May 7th. Royal Bank Of Canada lowered their target price on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Canadian Natural Resources from C$48.00 to C$70.00 in a report on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$64.88.

Canadian Natural Resources Stock Performance

Shares of TSE CNQ opened at C$61.42 on Friday. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98. The firm has a market cap of C$128.10 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.53 and a beta of 0.27. The business’s 50-day simple moving average is C$61.59 and its 200-day simple moving average is C$59.20. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99.

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 for the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%.The business had revenue of C$10.81 billion for the quarter. As a group, equities research analysts expect that Canadian Natural Resources will post 3.833989 earnings per share 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.