Raymond James Forecasts Strong Price Appreciation for Canadian Natural Resources (TSE:CNQ) Stock

by · The Markets Daily

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) had its price objective increased by investment analysts at Raymond James from C$50.00 to C$51.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ price objective points to a potential upside of 7.98% from the company’s current price.

CNQ has been the subject of a number of other research reports. Desjardins upgraded Canadian Natural Resources from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$56.00 to C$59.00 in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on Canadian Natural Resources from C$59.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. TD Securities increased their target price on Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. National Bankshares increased their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Finally, ATB Capital increased their target price on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$74.31.

Get Our Latest Report on Canadian Natural Resources

Canadian Natural Resources Stock Down 0.3 %

CNQ traded down C$0.12 during trading on Friday, reaching C$47.23. The stock had a trading volume of 1,919,059 shares, compared to its average volume of 11,829,737. The stock’s 50 day moving average is C$47.39 and its two-hundred day moving average is C$65.10. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The company has a market capitalization of C$100.60 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 0.53 and a beta of 1.89. Canadian Natural Resources has a one year low of C$40.02 and a one year high of C$56.49.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The business had revenue of C$9.05 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. As a group, analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was 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 Canadian Natural Resources stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction that occurred 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. Insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

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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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