Canadian Natural Resources (TSE:CNQ) PT Set at C$52.00 by CSFB


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Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) has been given a C$52.00 price target by research analysts at CSFB in a report released on Thursday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CSFB’s price objective indicates a potential upside of 33.99% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Eight Capital lifted their price objective on shares of Canadian Natural Resources to C$50.00 and gave the stock a “na” rating in a research note on Wednesday, February 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a C$43.00 price objective on shares of Canadian Natural Resources in a research note on Wednesday. Scotiabank lifted their price objective on shares of Canadian Natural Resources from C$33.00 to C$42.00 in a research note on Thursday, January 14th. TD Securities lifted their price objective on shares of Canadian Natural Resources from C$39.00 to C$42.00 and gave the stock a “buy” rating in a research note on Friday, March 5th. Finally, Raymond James lifted their price objective on shares of Canadian Natural Resources from C$45.00 to C$53.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 17th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$39.52.

TSE:CNQ traded up C$0.31 during trading hours on Thursday, reaching C$38.81. 1,482,774 shares of the company were exchanged, compared to its average volume of 6,949,233. The company has a debt-to-equity ratio of 71.47, a current ratio of 0.86 and a quick ratio of 0.59. The firm has a market cap of C$46.04 billion and a price-to-earnings ratio of -104.73. Canadian Natural Resources has a 52-week low of C$16.55 and a 52-week high of C$41.05. The stock has a 50 day simple moving average of C$37.82 and a 200 day simple moving average of C$30.47.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings results on Thursday, March 4th. The company reported C$0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.06 by C($0.01). The business had revenue of C$5.02 billion for the quarter, compared to the consensus estimate of C$4.88 billion. On average, analysts predict that Canadian Natural Resources will post 3.05 EPS for the current fiscal year.

In other news, Director Stephen W. Laut sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of C$39.62, for a total transaction of C$158,480.00. Following the completion of the transaction, the director now directly owns 2,269,237 shares of the company’s stock, valued at approximately C$89,907,169.94. Over the last three months, insiders have sold 85,875 shares of company stock valued at $3,282,957.

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 synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. 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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Analyst Recommendations for Canadian Natural Resources (TSE:CNQ)

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