Raymond James Forecasts Strong Price Appreciation for Canadian Natural Resources (TSE:CNQ) Stock

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price lifted by stock analysts at Raymond James from C$50.00 to C$51.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ target price indicates a potential upside of 7.98% from the company’s current price.

Several other research analysts have also commented on CNQ. TD Securities boosted their price target on Canadian Natural Resources from C$56.00 to C$58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. ATB Capital boosted their price target on Canadian Natural Resources from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. CIBC boosted their price target on Canadian Natural Resources from C$57.50 to C$59.00 in a research report on Wednesday, October 9th. Jefferies Financial Group upped their target price on Canadian Natural Resources from C$49.00 to C$57.00 in a research report on Friday, October 11th. Finally, Wolfe Research upgraded Canadian Natural Resources to a “hold” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Natural Resources has an average rating of “Hold” and an average target price of C$74.31.

Canadian Natural Resources Stock Down 0.3 %

TSE CNQ traded down C$0.12 on Friday, reaching C$47.23. 1,919,059 shares of the stock traded hands, compared to its average volume of 11,829,737. The company has a market cap of C$100.60 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.53 and a beta of 1.89. 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 12 month low of C$40.02 and a 12 month high of C$56.49. The company has a fifty day moving average price of C$47.39 and a 200-day moving average price of C$65.10.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, topping the consensus estimate of C$0.84 by C$0.04. The firm had revenue of C$9.05 billion during the quarter, compared to analyst estimates of C$8.41 billion. Canadian Natural Resources had a return on equity of 19.65% and a net margin of 20.88%. As a group, research analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer Devin Craig Lowe sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was 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 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. Also, Senior Officer Trevor Wagil sold 4,272 shares of the firm’s stock in a transaction that occurred 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. 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).