Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) had its price target upped by research analysts at Royal Bank of Canada from C$62.00 to C$63.00 in a report issued on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 33.39% from the company’s current price.
Other analysts have also recently issued research reports about the stock. ATB Capital upped their price objective on shares of Canadian Natural Resources from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. CIBC upped their price objective on shares of Canadian Natural Resources from C$57.50 to C$59.00 in a research note on Wednesday, October 9th. Raymond James upped their price objective 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 note on Friday. Gerdes Energy Research increased their price target on shares of Canadian Natural Resources from C$53.00 to C$55.00 in a research note on Friday. Finally, BMO Capital Markets increased their price target on shares of Canadian Natural Resources from C$57.50 to C$60.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, Canadian Natural Resources presently has an average rating of “Hold” and an average price target of C$74.31.
Check Out Our Latest Analysis on CNQ
Canadian Natural Resources Price Performance
Canadian Natural Resources (TSE:CNQ – Get Free Report) (NYSE:CNQ) last released its quarterly 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 net margin of 20.88% and a return on equity of 19.65%. The firm had revenue of C$9.05 billion during the quarter, compared to the consensus estimate of C$8.41 billion. Analysts expect that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.
Insiders Place Their Bets
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 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 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 the 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. 4.26% of the stock is owned by company 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).
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