Canadian Natural Resources (TSE:CNQ) PT Raised to C$59.00 at CIBC

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target raised by stock analysts at CIBC from C$57.50 to C$59.00 in a research report issued on Wednesday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 14.63% from the company’s previous close.

A number of other brokerages also recently issued reports on CNQ. Wolfe Research raised Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Desjardins raised Canadian Natural Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$56.00 to C$59.00 in a report on Tuesday. TD Securities lifted their price objective on Canadian Natural Resources from C$56.00 to C$58.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group decreased their price target on 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. Finally, Gerdes Energy Research boosted their price target on Canadian Natural Resources from C$52.00 to C$53.00 in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average price target of C$75.24.

Canadian Natural Resources Trading Up 2.7 %

Shares of Canadian Natural Resources stock opened at C$51.47 on Wednesday. The company has a market cap of C$109.63 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91. The firm has a 50-day simple moving average of C$47.13 and a two-hundred day simple moving average of C$70.12. The company has a debt-to-equity ratio of 29.64, a quick ratio of 0.54 and a current ratio of 0.88. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted 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. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. The business had revenue of C$9.05 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. As a group, equities analysts predict that Canadian Natural Resources will post 3.6036866 earnings per share for the current fiscal year.

Insider Activity at Canadian Natural Resources

In related news, 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 value of C$202,966.99. In other Canadian Natural Resources news, Senior Officer Devin Craig Lowe sold 3,750 shares of the company’s stock in a transaction dated 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 the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of C$47.51, for a total transaction of C$202,966.99. 4.26% of the stock is owned by company insiders.

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).