Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$90.00

Posted by on Aug 6th, 2023

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) had its price objective hoisted by research analysts at Evercore from C$88.00 to C$90.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an “in-line” rating on the stock. Evercore’s price target would suggest a potential upside of 10.42% from the stock’s previous close.

A number of other research firms also recently issued reports on CNQ. Stifel Nicolaus reduced their price target on shares of Canadian Natural Resources from C$97.00 to C$95.00 in a research report on Friday, May 5th. Scotiabank lifted their price objective on shares of Canadian Natural Resources from C$86.00 to C$87.00 in a research report on Thursday, April 13th. CSFB cut their price objective on shares of Canadian Natural Resources from C$93.00 to C$90.00 in a research report on Thursday, April 6th. Royal Bank of Canada cut their price objective on shares of Canadian Natural Resources from C$85.00 to C$82.00 in a research report on Wednesday, July 12th. Finally, National Bank Financial cut their price objective on shares of Canadian Natural Resources from C$105.00 to C$93.00 in a research report on Thursday, June 29th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$89.44.

Canadian Natural Resources Trading Up 1.9 %

Canadian Natural Resources stock opened at C$81.51 on Friday. The firm’s 50-day moving average is C$75.20 and its 200-day moving average is C$76.82. The company has a debt-to-equity ratio of 35.14, a quick ratio of 0.54 and a current ratio of 0.83. Canadian Natural Resources has a 1 year low of C$61.23 and a 1 year high of C$84.25. The company has a market cap of C$88.85 billion, a P/E ratio of 9.58, a PEG ratio of 0.53 and a beta of 2.04.

Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, May 4th. The company reported C$1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.62 by C$0.07. Canadian Natural Resources had a net margin of 23.94% and a return on equity of 25.00%. The company had revenue of C$8.63 billion for the quarter, compared to the consensus estimate of C$8.48 billion. On average, equities analysts expect that Canadian Natural Resources will post 6.6185567 earnings per share for the current year.

Insiders Place Their Bets

In other Canadian Natural Resources news, Director Stephen W. Laut sold 5,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of C$72.78, for a total transaction of C$363,895.00. 2.22% of the stock is owned by insiders.

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).

See Also

Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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