Raymond James Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$51.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target upped by equities researchers at Raymond James from C$50.00 to C$51.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ price target would indicate a potential upside of 7.87% from the company’s current price. Raymond James also issued estimates for Canadian Natural Resources’ FY2024 earnings at $3.43 EPS.

Other research analysts have also issued research reports about the stock. CIBC boosted 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. National Bankshares increased their target price on Canadian Natural Resources from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 8th. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a research report on Thursday, July 18th. Jefferies Financial Group upped their price target on Canadian Natural Resources from C$49.00 to C$57.00 in a report on Friday, October 11th. Finally, Royal Bank of Canada raised their price objective on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of C$74.31.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ opened at C$47.28 on Friday. The stock has a market capitalization of C$100.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.53 and a beta of 1.89. The business has a 50-day moving average of C$47.36 and a two-hundred day moving average of C$64.32. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted 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. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. The firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. On average, equities research analysts predict that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of Canadian Natural Resources stock in a transaction on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total transaction of C$183,900.00. In other news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction that occurred 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. Also, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction that occurred 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. Company insiders own 4.26% of the company’s stock.

About Canadian Natural Resources

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).