Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$56.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target upped by Desjardins from C$52.00 to C$56.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

CNQ has been the subject of several other reports. National Bank Financial raised their price target on Canadian Natural Resources from C$54.00 to C$59.00 and gave the company a “sector perform” rating in a report on Friday, March 6th. Morgan Stanley cut their price objective on Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. BMO Capital Markets raised their target price on Canadian Natural Resources from C$50.00 to C$70.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Royal Bank Of Canada upped their price target on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, TD Securities increased their price target on shares of Canadian Natural Resources from C$51.00 to C$64.00 and gave the company a “buy” rating in a report on Friday, March 6th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$58.75.

Canadian Natural Resources Trading Up 3.3%

Shares of Canadian Natural Resources stock opened at C$64.18 on Monday. The firm has a market cap of C$133.69 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$64.39. The company’s 50-day simple moving average is C$52.87 and its 200-day simple moving average is C$47.64. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 EPS for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. As a group, equities research analysts anticipate that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, insider Erin Louise Lunn sold 2,252 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total value of C$111,879.36. Following the sale, the insider owned 51,142 shares of the company’s stock, valued at approximately C$2,540,734.56. This represents a 4.22% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$49.83, for a total value of C$996,600.00. Following the completion of the transaction, the insider owned 2,049 shares of the company’s stock, valued at approximately C$102,101.67. This represents a 90.71% decrease in their position. Insiders sold a total of 51,775 shares of company stock worth $2,571,074 over the last ninety days. 4.26% of the stock is currently owned by corporate 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.