Canadian Natural Resources (CNQ) Stock Forecast & Price Target

$34.40

+0.15 (+0.44%)

(As of 11/5/2024 ET)

Canadian Natural Resources - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 4 Analyst Ratings

Sell
0

Hold
4

Buy
0

Based on 4 Wall Street analysts who have issued ratings for Canadian Natural Resources in the last 12 months, the stock has a consensus rating of "Hold." Out of the 4 analysts, 4 have given a hold rating for CNQ.

Consensus Price Target

$51.00
48.26% Upside

According to the 4 analysts' twelve-month price targets for Canadian Natural Resources, the average price target is $51.00. The highest price target for CNQ is $51.00, while the lowest price target for CNQ is $51.00. The average price target represents a forecasted upside of 48.26% from the current price of $34.40.

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CNQ Analyst Ratings Over Time

Type	Current Forecast 11/6/23 to 11/5/24	1 Month Ago 10/7/23 to 10/6/24	3 Months Ago 8/8/23 to 8/7/24	1 Year Ago 11/6/22 to 11/6/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	0 Buy rating(s)	1 Buy rating(s)	1 Buy rating(s)	5 Buy rating(s)
Hold	4 Hold rating(s)	5 Hold rating(s)	6 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$51.00	$49.50	$48.13	$43.70
Forecasted Upside	48.26% Upside	39.24% Upside	43.53% Upside	31.40% Upside
Consensus Rating	Hold	Hold	Hold	Moderate Buy

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CNQ Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CNQ Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Canadian Natural Resources Stock vs. The Competition

Type	Canadian Natural Resources	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.00	2.64	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	48.26% Upside	1,513.81% Upside	9.47% Upside
News Sentiment Rating	Positive News See Recent CNQ News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/8/2024	Desjardins 2 of 5 stars	C. Macculloch Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Moderate Buy
7/18/2024	Wolfe Research 3 of 5 stars	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Peer Perform
6/11/2024	Scotiabank 5 of 5 stars		Reiterated Rating	Sector Perform ➝ Sector Perform
5/28/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Mccrea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
1/11/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$50.50 ➝ $51.00	+57.16%
11/3/2023	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$47.50 ➝ $48.00	+41.22%
8/29/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperformer ➝ Outperformer	$45.00 ➝ $46.50	+45.97%
8/28/2023	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$42.00 ➝ $47.00	+51.64%
8/4/2023	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$40.00 ➝ $42.50	+38.37%
8/4/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Sector Perform
7/12/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy
1/12/2023	Stifel Firstegy Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Dunn Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy
1/12/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy
12/1/2022	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$46.00 ➝ C$48.50
11/21/2022	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$31.00 ➝ $34.50	+15.54%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 10:07 PM ET.

Should I Buy Canadian Natural Resources Stock? CNQ Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, October 18, 2024. Please send any questions or comments about these Canadian Natural Resources pros and cons to contact@marketbeat.com.

Canadian Natural Resources
Bull Case

Here are some ways that investors could benefit from investing in Canadian Natural Resources Limited:

Canadian Natural Resources Limited has a strong market capitalization of $69.90 billion, indicating stability and potential for growth.
The company's recent quarterly earnings report showed a positive EPS of $0.88, beating analysts' estimates by $0.26, reflecting strong financial performance.
With a dividend payout ratio of 61.75%, investors can benefit from a consistent dividend income, currently at $0.384 per share.
Trading at $32.85, Canadian Natural Resources Limited's stock price is showing an upward trend, presenting a potential buying opportunity.
The company's diversified portfolio in crude oil, natural gas, and natural gas liquids (NGLs) provides a hedge against market volatility and enhances revenue streams.

Canadian Natural Resources
Bear Case

Investors should be bearish about investing in Canadian Natural Resources Limited for these reasons:

The company's current ratio of 0.88 and quick ratio of 0.59 indicate potential liquidity challenges and may raise concerns about short-term financial health.
Canadian Natural Resources Limited's 50-day simple moving average is $35.00, below the 200-day simple moving average of $36.49, signaling a possible bearish trend in the stock price.
With a debt-to-equity ratio of 0.24, there is a moderate level of debt that investors should consider in relation to the company's overall financial structure.
While the company has a beta of 1.51, indicating higher volatility compared to the market, investors seeking stability may find this level of risk less appealing.
Analysts have issued a mix of hold and buy ratings, suggesting uncertainty in the market sentiment towards Canadian Natural Resources Limited, which could impact stock performance.

CNQ Forecast - Frequently Asked Questions

: According to the research reports of 4 Wall Street equities research analysts, the average twelve-month stock price forecast for Canadian Natural Resources is $51.00, with a high forecast of $51.00 and a low forecast of $51.00.
: 4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Canadian Natural Resources in the last twelve months. There are currently 4 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" CNQ shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CNQ, but not buy additional shares or sell existing shares.
: According to analysts, Canadian Natural Resources's stock has a predicted upside of 48.26% based on their 12-month stock forecasts.
: Over the previous 90 days, Canadian Natural Resources's stock had 1 upgrade by analysts.
: Canadian Natural Resources has been rated by research analysts at Desjardins in the past 90 days.
: Analysts like Canadian Natural Resources less than other "oils/energy" companies. The consensus rating for Canadian Natural Resources is Hold while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how CNQ compares to other companies.

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This page (NYSE:CNQ) was last updated on 11/5/2024 by MarketBeat.com Staff

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Canadian Natural Resources (CNQ) Stock Forecast & Price Target