Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$54.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target lifted by National Bankshares from C$47.00 to C$54.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. TD Securities lifted their target price on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Desjardins set a C$52.00 price target on Canadian Natural Resources and gave the stock a “hold” rating in a report on Wednesday, December 17th. Raymond James Financial upped their price objective on Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Morgan Stanley decreased their target price on Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. Finally, Royal Bank Of Canada cut their price target on shares of Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Natural Resources has an average rating of “Hold” and a consensus price target of C$54.40.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ opened at C$51.90 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The stock has a market cap of C$108.11 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The stock’s fifty day simple moving average is C$46.92 and its two-hundred day simple moving average is C$44.96. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$52.91.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its earnings results on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. The company had revenue of C$9.52 billion during the quarter. As a group, analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Trevor Wagil sold 2,469 shares of Canadian Natural Resources stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$45.19, for a total value of C$111,574.11. Following the completion of the transaction, the insider owned 14,779 shares in the company, valued at C$667,863.01. This trade represents a 14.31% decrease in their ownership of the stock. 4.26% of the stock is owned by corporate insiders.

Canadian Natural Resources Company Profile

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.