Canadian Natural Resources Limited (TSE:CNQ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$64.06.

CNQ has been the subject of a number of recent research reports. National Bank Financial boosted their price objective on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their price objective on shares of Canadian Natural Resources from C$65.00 to C$80.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Scotiabank raised Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$65.00 to C$67.00 in a research note on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Canadian Natural Resources from C$52.00 to C$54.00 in a report on Tuesday, March 31st.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at C$60.00 on Wednesday. The company’s 50-day simple moving average is C$61.64 and its two-hundred day simple moving average is C$58.88. The company has a market capitalization of C$125.14 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a one year low of C$40.62 and a one year high of C$70.99. The company has a debt-to-equity ratio of 44.85, a current ratio of 0.98 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, May 7th. The company reported C$1.17 earnings per share for the quarter. The business had revenue of C$10.81 billion during the quarter. Canadian Natural Resources had a return on equity of 22.74% and a net margin of 24.51%. As a group, equities analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current year.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.