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Investing.com - RBC Capital has lowered its price target on Canadian Natural Resources (TSX:CNQ) Limited (NYSE:CNQ) to $62.00 from $64.00, representing a $2 or 3% reduction, while maintaining an Outperform rating on the stock. The company, currently trading at $30.55, shows potential upside according to InvestingPro’s Fair Value analysis.
The firm cited Canadian Natural Resources’ leadership team, shareholder alignment, and operating performance as key factors supporting its continued positive outlook despite the target reduction. The company maintains a "Good" financial health score, with strong profitability metrics including a 50% gross margin and 19% return on equity.
RBC Capital highlighted the company’s ability to generate free cash flow throughout market cycles and its track record of providing "abundant shareholder returns" as additional strengths. The company has maintained dividend payments for 25 consecutive years, currently offering a 5.7% yield, with 10.7% dividend growth in the last twelve months.
The research firm confirmed that Canadian Natural Resources remains its favorite senior producer in Canada and continues to hold a position on RBC’s Global Energy Best Ideas list.
No specific reason was provided for the $2 price target reduction in the analyst’s comments, though the overall assessment of the company remained strongly positive.
In other recent news, Canadian Natural Resources Limited reported strong financial and operational results for the first quarter of 2025. The company achieved record production levels, with adjusted net earnings reaching 2.4 billion dollars. Additionally, Canadian Natural Resources reported an adjusted funds flow of 4.5 billion dollars, highlighting its focus on efficiency. These results indicate a robust performance for the company during this period. The company’s strategic initiatives appear to be contributing positively to its financial outcomes. Investors may find these developments significant as they reflect the company’s current financial health. The information provided underscores Canadian Natural Resources’ recent achievements in production and financial management.
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