Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$86.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lifted by National Bank Financial from C$84.00 to C$86.00 in a research report report published on Tuesday morning,BayStreet reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities analysts have also commented on the company. TD lifted their price objective on Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Desjardins increased their price objective on shares of Canadian Natural Resources from C$73.00 to C$74.00 and gave the company a “hold” rating in a research note on Tuesday. Raymond James Financial cut Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and dropped their target price for the stock from C$70.00 to C$69.00 in a report on Wednesday, October 14th. Canadian Imperial Bank of Commerce lifted their price target on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a report on Thursday, August 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$70.00.

Canadian Natural Resources Stock Performance

Shares of CNQ opened at C$75.50 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The firm has a market cap of C$155.64 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. Canadian Natural Resources has a 12 month low of C$41.68 and a 12 month high of C$77.60. The company’s fifty day moving average is C$70.18 and its 200-day moving average is C$65.26.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share for the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. The company had revenue of C$14.74 billion for the quarter. Equities analysts expect that Canadian Natural Resources will post 3.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Shelley Ann Marie Brown purchased 709 shares of Canadian Natural Resources stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of C$70.44 per share, for a total transaction of C$49,941.96. Following the transaction, the director directly owned 1,780 shares of the company’s stock, valued at approximately C$125,383.20. This trade represents a 66.20% increase in their ownership of the stock. 4.26% of the stock is owned by corporate insiders.

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.