Canadian Natural Resources (TSE:CNQ) Cut to “Hold” at Raymond James Financial

Raymond James Financial downgraded shares of Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) from a moderate buy rating to a hold rating in a research note published on Monday morning, MarketBeat.com reports. They currently have C$65.00 price objective on the stock, up from their prior price objective of C$55.00.

CNQ has been the subject of a number of other research reports. Morgan Stanley reduced their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. ATB Cormark Capital Markets lifted their price objective on Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Scotiabank upped their target price on Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Evercore lowered Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 target price on the stock. in a research report on Tuesday, January 6th. Finally, National Bank Financial increased their target price on Canadian Natural Resources from C$54.00 to C$59.00 and gave the company a “sector perform” rating in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$61.31.

Canadian Natural Resources Stock Performance

TSE:CNQ opened at C$64.64 on Monday. The firm’s fifty day simple moving average is C$59.27 and its 200 day simple moving average is C$50.20. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 44.46. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$70.99. The firm has a market capitalization of C$134.89 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 earnings per share for the quarter. The company had revenue of C$9.61 billion during 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 expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Buying and Selling at Canadian Natural Resources

In other news, insider Stephanie Ann Graham sold 1,930 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.19, for a total value of C$94,936.70. Following the completion of the sale, the insider owned 16,367 shares of the company’s stock, valued at C$805,092.73. This trade represents a 10.55% decrease in their ownership of the stock. Also, Director Gordon D. Giffin sold 25,000 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the completion of the sale, the director directly owned 171,210 shares of the company’s stock, valued at approximately C$11,643,992.10. This represents a 12.74% decrease in their ownership of the stock. Insiders have sold 74,306 shares of company stock valued at $4,159,750 over the last three months. 4.26% of the stock is owned by 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.