Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$63.00 at Royal Bank of Canada

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective boosted by Royal Bank of Canada from C$62.00 to C$63.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 33.25% from the company’s current price.

Other research analysts have also issued reports about the stock. Gerdes Energy Research raised their target price on shares of Canadian Natural Resources from C$53.00 to C$55.00 in a report on Friday. National Bankshares lifted their price objective on shares of Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 8th. Raymond James upped their target price on shares of Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research report on Friday. TD Securities lifted their price target on Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets boosted their price objective on Canadian Natural Resources from C$57.50 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of C$74.31.

Canadian Natural Resources Trading Down 0.1 %

Shares of Canadian Natural Resources stock opened at C$47.28 on Friday. Canadian Natural Resources has a twelve month low of C$40.02 and a twelve month high of C$56.49. The company has a quick ratio of 0.54, a current ratio of 0.88 and a debt-to-equity ratio of 29.64. The business has a 50-day moving average price of C$47.36 and a 200-day moving average price of C$64.32. The firm has a market cap of C$100.71 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.53 and a beta of 1.89.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.04. The business had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. Equities research analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling

In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were 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 firm’s 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. Also, Senior Officer Trevor Wagil sold 4,272 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total value of C$202,966.99. 4.26% of the stock is currently owned by insiders.

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).