Canadian Natural Resources (TSE:CNQ) Rating Lowered to Hold at Raymond James Financial

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of Canadian Natural Resources from C$79.00 to C$86.00 in a research report on Tuesday. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a research note on Thursday, August 27th. Scotia boosted their target price on shares of Canadian Natural Resources from C$71.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. TD increased their price target on shares of Canadian Natural Resources from C$72.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from C$67.00 to C$69.00 in a research note on Monday, June 29th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian Natural Resources currently has an average rating of “Hold” and an average price target of C$67.53.

Canadian Natural Resources Stock Down 0.5%

CNQ opened at C$73.83 on Wednesday. The company has a market capitalization of C$152.20 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. The company has a debt-to-equity ratio of 36.64, a current ratio of 1.00 and a quick ratio of 0.54. Canadian Natural Resources has a fifty-two week low of C$41.67 and a fifty-two week high of C$74.99. The business has a 50-day moving average of C$68.94 and a 200-day moving average of C$64.90.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The business had revenue of C$14.74 billion during the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. Equities research analysts forecast that Canadian Natural Resources will post 3.83 EPS for the current fiscal year.

Insider Buying and Selling at Canadian Natural Resources

In related news, Director Shelley Ann Marie Brown purchased 709 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of C$70.44 per share, for a total transaction of C$49,941.96. Following the purchase, the director owned 1,780 shares in the company, valued at C$125,383.20. The trade was a 66.20% increase in their position. 4.26% of the stock is 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.