Canadian Natural Resources (TSE:CNQ) PT Raised to C$62.00 at Royal Bank of Canada

by · The Cerbat Gem

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) had its price objective hoisted by analysts at Royal Bank of Canada from C$59.00 to C$62.00 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 23.73% from the company’s previous close.

Several other research firms also recently weighed in on CNQ. National Bankshares dropped their target price on shares of Canadian Natural Resources from C$58.00 to C$52.00 in a research report on Friday, September 27th. Scotiabank reduced their price target on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Wolfe Research upgraded shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. TD Securities raised their target price on Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Desjardins upped their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$75.24.

View Our Latest Research Report on Canadian Natural Resources

Canadian Natural Resources Stock Up 1.0 %

Shares of CNQ opened at C$50.11 on Tuesday. The firm has a market cap of C$106.73 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91. The company’s fifty day moving average is C$47.08 and its two-hundred day moving average is C$70.48. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last posted its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.04. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion for the quarter, compared to analyst estimates of C$8.41 billion. Analysts forecast that Canadian Natural Resources will post 3.6036866 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Trevor Wagil sold 4,272 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of C$47.51, for a total value of C$202,966.99. In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. Corporate insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

(Get Free Report)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

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