Canadian Natural Resources (TSE:CNQ) Hits New 12-Month High – Here’s What Happened

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$72.35 and last traded at C$70.58, with a volume of 7034537 shares changing hands. The stock had previously closed at C$70.91.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CNQ shares. Canadian Imperial Bank of Commerce boosted their price objective on Canadian Natural Resources from C$70.00 to C$75.00 in a research report on Thursday, August 27th. Raymond James Financial boosted their price objective on shares of Canadian Natural Resources from C$65.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Desjardins set a C$70.00 price objective on Canadian Natural Resources and gave the company a “hold” rating in a report on Friday, July 17th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. upped their price target on Canadian Natural Resources from C$67.00 to C$75.00 in a research report on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$66.88.

Canadian Natural Resources Stock Performance

The company has a debt-to-equity ratio of 36.64, a quick ratio of 0.54 and a current ratio of 1.00. The stock’s 50 day moving average price is C$65.79 and its 200 day moving average price is C$64.01. The company has a market capitalization of C$142.90 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.53 and a beta of 0.32.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, August 6th. The company reported C$2.19 earnings per share (EPS) for the quarter. The business had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%. As a group, equities analysts expect that Canadian Natural Resources Limited will post 3.833989 EPS for the current year.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.