Canadian Natural Resources (TSE:CNQ) Given New C$51.00 Price Target at Raymond James

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price hoisted by analysts at Raymond James from C$50.00 to C$51.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James’ target price indicates a potential upside of 7.87% from the stock’s current price. Raymond James also issued estimates for Canadian Natural Resources’ FY2024 earnings at $3.43 EPS.

CNQ has been the subject of several other reports. 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 report on Tuesday, October 8th. TD Securities boosted their price target on shares of Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Wolfe Research raised shares of Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on shares of Canadian Natural Resources from C$59.00 to C$62.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Finally, National Bankshares raised their price target on Canadian Natural Resources from C$52.00 to C$53.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$74.31.

Canadian Natural Resources Stock Performance

Shares of Canadian Natural Resources stock opened at C$47.28 on Friday. The firm has a 50 day simple moving average of C$47.36 and a 200 day simple moving average of C$64.32. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week 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 firm has a market cap of C$100.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.53 and a beta of 1.89.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results 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 the consensus estimate of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. Sell-side analysts predict that Canadian Natural Resources will post 3.833989 earnings per share 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 business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of C$49.04, for a total value of C$183,900.00. In related 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 business’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. Corporate insiders own 4.26% 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).