Canadian Natural Resources (TSE:CNQ) Price Target Cut to C$56.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lowered by investment analysts at TD Securities from C$60.00 to C$56.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 19.68% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Raymond James cut their price objective on shares of Canadian Natural Resources from C$97.00 to C$49.00 and set a “market perform” rating on the stock in a report on Wednesday, June 12th. National Bankshares reduced their price target on Canadian Natural Resources from C$58.00 to C$52.00 in a research report on Friday, September 27th. Desjardins upped their price objective on Canadian Natural Resources from C$55.00 to C$56.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Royal Bank of Canada reduced their target price on shares of Canadian Natural Resources from C$62.00 to C$59.00 in a report on Tuesday, September 17th. Finally, Jefferies Financial Group lowered their price target 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, September 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$85.81.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at C$46.79 on Tuesday. 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 current ratio of 0.88, a quick ratio of 0.54 and a debt-to-equity ratio of 29.64. The stock has a fifty day simple moving average of C$46.97 and a two-hundred day simple moving average of C$71.91. The stock has a market capitalization of C$99.66 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.53 and a beta of 1.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.88 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.04. The company had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a net margin of 20.88% and a return on equity of 19.65%. On average, analysts predict that Canadian Natural Resources will post 3.6036866 EPS for the current fiscal year.

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).