Canadian Natural Resources (TSE:CNQ) Posts Earnings Results

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) posted its quarterly earnings results on Thursday. The company reported C$1.65 EPS for the quarter, FiscalAI reports. The firm had revenue of C$12.79 billion for the quarter. Canadian Natural Resources had a net margin of 24.93% and a return on equity of 26.67%.

Canadian Natural Resources Stock Down 1.0%

Shares of CNQ stock traded down C$0.72 on Thursday, hitting C$68.48. The stock had a trading volume of 11,346,441 shares, compared to its average volume of 14,400,455. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The business has a 50 day moving average price of C$71.37 and a 200 day moving average price of C$64.09. The company has a market cap of C$141.17 billion, a PE ratio of 12.19, a P/E/G ratio of 0.53 and a beta of 0.44. Canadian Natural Resources has a one year low of C$41.68 and a one year high of C$78.60.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CNQ shares. Raymond James Financial cut shares of Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and lowered their price objective for the company from C$70.00 to C$69.00 in a research report on Wednesday, October 14th. National Bank Financial upped their target price on shares of Canadian Natural Resources from C$84.00 to C$86.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 20th. ATB Cormark Capital Markets raised their target price on shares of Canadian Natural Resources from C$70.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Canadian Imperial Bank of Commerce lifted their price target on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada boosted their price target on Canadian Natural Resources from C$79.00 to C$86.00 in a report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$70.00.

Insiders Place Their Bets

In other Canadian Natural Resources news, Director Shelley Ann Marie Brown bought 709 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of C$70.44 per share, for a total transaction of C$49,941.96. Following the acquisition, the director directly owned 1,780 shares in the company, valued at approximately C$125,383.20. The trade was a 66.20% increase in their ownership of the stock. 4.26% of the stock is currently owned by company insiders.

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.