Royal Bank of Canada Boosts Canadian Natural Resources (TSE:CNQ) Price Target to C$63.00

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) had its price objective upped by research analysts at Royal Bank of Canada from C$62.00 to C$63.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 33.39% from the company’s previous close.

Several other research firms also recently commented on CNQ. Wolfe Research raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. TD Securities increased their price objective on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Raymond James increased their price objective on shares of Canadian Natural Resources from C$50.00 to C$51.00 and gave the stock a “market perform” rating in a research report on Friday. CIBC raised their target price on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research report on Wednesday, October 9th. Finally, Desjardins raised shares of Canadian Natural Resources from a “hold” rating to a “buy” rating and raised their target price for the stock from C$56.00 to C$59.00 in a research report on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and a consensus target price of C$74.31.

View Our Latest Analysis on CNQ

Canadian Natural Resources Stock Performance

Shares of CNQ stock traded down C$0.12 during mid-day trading on Friday, reaching C$47.23. 1,919,059 shares of the company’s stock traded hands, compared to its average volume of 11,829,737. Canadian Natural Resources has a 12 month low of C$40.02 and a 12 month high of C$56.49. The firm has a 50 day moving average price of C$47.39 and a two-hundred day moving average price of C$65.10. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. The firm has a market capitalization of C$100.60 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89.

Canadian Natural Resources (TSE:CNQGet Free Report) (NYSE:CNQ) last issued its earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.04. The company 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 net margin of 20.88% and a return on equity of 19.65%. On average, research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Activity

In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction 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. In related 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 transaction of C$202,966.99. Also, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction 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. 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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