Canadian Imperial Bank of Commerce Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$75.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective upped by Canadian Imperial Bank of Commerce from C$70.00 to C$75.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target would indicate a potential upside of 8.32% from the company’s previous close.

A number of other equities analysts have also recently commented on CNQ. Royal Bank Of Canada decreased their price target on Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Raymond James Financial boosted their price target on Canadian Natural Resources from C$65.00 to C$66.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Finally, Scotia boosted their target price on Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$66.88.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock traded up C$0.31 on Thursday, reaching C$69.24. The stock had a trading volume of 1,496,652 shares, compared to its average volume of 14,442,237. The business’s 50 day moving average is C$62.63 and its two-hundred day moving average is C$62.82. The company has a current ratio of 1.00, a quick ratio of 0.54 and a debt-to-equity ratio of 36.64. Canadian Natural Resources has a 1 year low of C$41.67 and a 1 year high of C$70.99. The company has a market cap of C$142.74 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$2.19 earnings per share for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. The company had revenue of C$14.74 billion for the quarter. As a group, research analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current 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.