Canadian Natural Resources (TSE:CNQ) Price Target Increased to C$51.00 by Analysts at Raymond James

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective raised by equities researchers at Raymond James from C$48.00 to C$51.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target suggests a potential upside of 3.01% from the stock’s current price.

Other analysts also recently issued reports about the stock. Royal Bank of Canada increased their price target on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the company an “outperform” rating in a report on Tuesday. Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and increased their price target for the company from C$56.00 to C$59.00 in a report on Tuesday. Jefferies Financial Group reduced their price target on shares of Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating for the company in a report on Monday, September 16th. 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 report on Tuesday, June 11th. Finally, National Bankshares increased their price target on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$78.53.

Canadian Natural Resources Stock Down 0.6 %

TSE CNQ traded down C$0.30 during trading on Tuesday, reaching C$49.51. The company’s stock had a trading volume of 2,228,769 shares, compared to its average volume of 12,287,490. The business has a 50-day moving average price of C$47.03 and a 200-day moving average price of C$70.84. The company has a current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. Canadian Natural Resources has a 1-year low of C$40.02 and a 1-year high of C$56.49. The stock has a market capitalization of C$105.46 billion, a PE ratio of 14.11, a PEG ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share 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 during the quarter, compared to analysts’ expectations of C$8.41 billion. On average, research analysts forecast that Canadian Natural Resources will post 3.6036866 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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).