Royal Bank of Canada Raises Canadian Natural Resources (TSE:CNQ) Price Target to C$62.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target increased by equities research analysts at Royal Bank of Canada from C$59.00 to C$62.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 25.23% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Desjardins upped their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group decreased their price objective on shares of Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating on the stock in a report on Monday, September 16th. TD Securities upped their price objective on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James decreased their price objective on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. Finally, BMO Capital Markets upped their price objective on shares of Canadian Natural Resources from C$57.50 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$78.53.

Canadian Natural Resources Stock Down 0.6 %

CNQ traded down C$0.30 during trading on Tuesday, reaching C$49.51. The company had a trading volume of 2,228,769 shares, compared to its average volume of 12,287,490. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a 12 month low of C$40.02 and a 12 month high of C$56.49. The business’s fifty day moving average price is C$47.03 and its 200 day moving average price is C$70.84. The company has a market cap of C$105.46 billion, a P/E ratio of 14.11, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates 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. Equities analysts anticipate that Canadian Natural Resources will post 3.6036866 EPS for the current year.

Insider Activity at Canadian Natural Resources

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total value of C$183,900.00. In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,272 shares of the 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 transaction of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of C$49.04, for a total transaction of C$183,900.00. 4.26% of the stock is owned by company insiders.

Canadian Natural Resources Company Profile

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).