National Bank Financial Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price increased by research analysts at National Bank Financial from C$59.00 to C$90.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 34.65% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on CNQ. Royal Bank Of Canada boosted their price target on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Canadian Imperial Bank of Commerce lifted their target price on Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday. Raymond James Financial downgraded Canadian Natural Resources from a “moderate buy” rating to a “hold” rating and boosted their target price for the company from C$55.00 to C$65.00 in a report on Monday. Jefferies Financial Group upped their target price on Canadian Natural Resources from C$48.00 to C$59.00 in a research report on Monday, March 16th. Finally, Morgan Stanley dropped their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Natural Resources presently has a consensus rating of “Hold” and a consensus price target of C$61.31.

Canadian Natural Resources Stock Down 2.9%

Canadian Natural Resources stock traded down C$1.99 during mid-day trading on Tuesday, hitting C$66.84. The company had a trading volume of 4,812,907 shares, compared to its average volume of 16,394,777. 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 has a 1 year low of C$34.92 and a 1 year high of C$70.99. The business has a fifty day moving average of C$58.56 and a 200 day moving average of C$49.92. The stock has a market cap of C$139.48 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 earnings per share for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. The business had revenue of C$9.61 billion during the quarter. On average, sell-side analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, Director Gordon D. Giffin sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the transaction, the director directly owned 171,210 shares of the company’s stock, valued at approximately C$11,643,992.10. This trade represents a 12.74% decrease in their position. Also, insider Kyle Grayson Pisio sold 7,456 shares of Canadian Natural Resources stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$50.11, for a total transaction of C$373,620.16. Following the completion of the transaction, the insider owned 26,089 shares in the company, valued at approximately C$1,307,319.79. This represents a 22.23% decrease in their ownership of the stock. Insiders sold a total of 74,306 shares of company stock worth $4,159,750 in the last three months. Company insiders own 4.26% of the company’s stock.

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.