Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$20.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective hoisted by Wells Fargo & Company from C$17.00 to C$20.00 in a research report released on Monday morning, BayStreet.CA reports.

A number of other equities analysts also recently issued reports on CNQ. Raymond James increased their price target on shares of Canadian Natural Resources from C$32.00 to C$33.00 and gave the stock an outperform rating in a research note on Friday, August 7th. Tudor Pickering reissued a buy rating and issued a C$29.00 target price on shares of Canadian Natural Resources in a research report on Friday, May 29th. National Bank Financial raised their target price on Canadian Natural Resources from C$39.00 to C$40.00 and gave the company an outperform rating in a research note on Friday, August 7th. Cormark upped their price target on Canadian Natural Resources from C$25.00 to C$30.00 in a research note on Friday, August 7th. Finally, Credit Suisse Group reissued an outperform rating and set a C$32.00 price objective on shares of Canadian Natural Resources in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of C$32.11.

CNQ opened at C$24.38 on Monday. The company has a debt-to-equity ratio of 76.41, a quick ratio of 0.54 and a current ratio of 0.83. The stock has a market capitalization of $28.79 billion and a PE ratio of 937.69. The stock’s 50 day moving average price is C$25.52 and its 200-day moving average price is C$23.88. Canadian Natural Resources has a 52-week low of C$9.80 and a 52-week high of C$42.57.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, August 6th. The company reported C($0.65) earnings per share for the quarter, beating the consensus estimate of C($0.76) by C$0.11. The company had revenue of C$2.87 billion during the quarter, compared to the consensus estimate of C$2.72 billion. Research analysts forecast that Canadian Natural Resources will post 0.7372064 EPS for the current fiscal year.

About Canadian Natural Resources

Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.

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