Canadian Natural Resources (TSE:CNQ) Price Target Lowered to C$79.00 at Royal Bank Of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective decreased by Royal Bank Of Canada from C$80.00 to C$79.00 in a research note released on Wednesday morning,BayStreet.CA reports.

A number of other research firms also recently weighed in on CNQ. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating and increased their price target for the stock from C$65.00 to C$67.00 in a research note on Thursday, May 7th. Scotiabank upgraded Canadian Natural Resources to a “hold” rating in a research note on Friday, June 26th. Canadian Imperial Bank of Commerce increased their price objective on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. TD increased their target price on Canadian Natural Resources from C$64.00 to C$72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Canadian Natural Resources from C$48.00 to C$70.00 in a research note on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of C$64.00.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at C$60.11 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.98 and a debt-to-equity ratio of 44.85. The business has a 50 day moving average of C$61.60 and a 200 day moving average of C$58.98. The company has a market cap of C$125.37 billion, a PE ratio of 11.65, a P/E/G ratio of 0.53 and a beta of 0.27. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99.

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