Canadian Natural Resources (TSE:CNQ) Given a C$70.00 Price Target at Desjardins

Desjardins set a C$70.00 price target on Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a research note released on Friday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on CNQ. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from C$67.00 to C$69.00 in a research note on Monday, June 29th. Royal Bank Of Canada dropped their price objective on shares of Canadian Natural Resources from C$80.00 to C$79.00 in a research note on Wednesday. Scotiabank raised shares of 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 target price for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. Finally, TD upped their target price on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average target price of C$64.88.

Canadian Natural Resources Stock Up 2.0%

Shares of Canadian Natural Resources stock opened at C$61.42 on Friday. The stock has a market capitalization of C$128.10 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.53 and a beta of 0.27. The company has a debt-to-equity ratio of 44.85, a quick ratio of 0.54 and a current ratio of 0.98. Canadian Natural Resources has a 52-week low of C$40.62 and a 52-week high of C$70.99. The company has a 50-day simple moving average of C$61.59 and a two-hundred day simple moving average of C$59.11.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, May 7th. The company reported C$1.17 EPS for the quarter. The firm 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%. On average, analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal 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.