Royal Bank of Canada Cuts Canadian Natural Resources (TSE:CNQ) Price Target to C$59.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective cut by investment analysts at Royal Bank of Canada from C$62.00 to C$59.00 in a report released on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 32.61% from the company’s previous close.

CNQ has been the topic of a number of other research reports. Jefferies Financial Group dropped 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 report on Monday. TD Securities increased their price objective on shares of Canadian Natural Resources from C$49.00 to C$60.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wolfe Research raised shares of Canadian Natural Resources to a “hold” rating in a report on Thursday, July 18th. Scotiabank dropped their price objective on shares of Canadian Natural Resources from C$114.00 to C$57.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Finally, Desjardins raised their target price on shares of Canadian Natural Resources from C$55.00 to C$56.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$90.31.

Canadian Natural Resources Trading Up 1.3 %

CNQ stock traded up C$0.56 on Tuesday, hitting C$44.49. 7,934,493 shares of the company were exchanged, compared to its average volume of 12,221,694. 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 debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. The business’s fifty day moving average is C$47.80 and its two-hundred day moving average is C$76.30. The stock has a market capitalization of C$94.76 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.53 and a beta of 1.91.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$9.05 billion for the quarter, compared to the consensus estimate of C$8.41 billion. As a group, research analysts forecast that Canadian Natural Resources will post 4.2311277 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$48.43, for a total transaction of C$181,612.50. Corporate insiders own 4.24% 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).