CIBC Increases Canadian Natural Resources (TSE:CNQ) Price Target to C$59.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective boosted by stock analysts at CIBC from C$57.50 to C$59.00 in a research note issued on Wednesday, BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 18.40% from the stock’s previous close.

Several other analysts also recently issued reports on CNQ. Gerdes Energy Research increased their price target on Canadian Natural Resources from C$52.00 to C$53.00 in a report on Tuesday. Desjardins raised Canadian Natural Resources from a “hold” rating to a “buy” rating and upped their price target for the company from C$56.00 to C$59.00 in a research report on Tuesday. ATB Capital upped their target price on Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday. TD Securities raised their price target on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group lowered their price objective on shares of Canadian Natural Resources from C$52.00 to C$49.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$75.24.

Canadian Natural Resources Trading Up 0.4 %

TSE:CNQ traded up C$0.22 on Wednesday, reaching C$49.83. The stock had a trading volume of 1,644,814 shares, compared to its average volume of 12,276,238. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The company has a market cap of C$106.14 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 0.53 and a beta of 1.91. The firm’s fifty day moving average is C$47.08 and its two-hundred day moving average is C$70.48. Canadian Natural Resources has a 12-month low of C$40.02 and a 12-month high of C$56.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of C$8.41 billion. Equities analysts expect that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the 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 value of C$183,900.00. Also, Senior Officer Trevor Wagil sold 4,272 shares of Canadian Natural Resources stock in a transaction 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.

Canadian Natural Resources Company Profile

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).