Royal Bank of Canada Has Lowered Expectations for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective reduced by stock analysts at Royal Bank of Canada from C$63.00 to C$62.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 37.59% from the company’s previous close.

Several other analysts have also recently commented on the stock. BMO Capital Markets decreased their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a research note on Friday, December 13th. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. CIBC lifted their price objective on Canadian Natural Resources from C$57.50 to C$59.00 in a research report on Wednesday, October 9th. Raymond James upped their target price on shares of Canadian Natural Resources from C$50.00 to C$51.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on shares of Canadian Natural Resources from C$48.00 to C$50.00 in a research report on Monday, December 9th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$71.88.

Canadian Natural Resources Price Performance

Shares of TSE:CNQ traded down C$0.39 during midday trading on Tuesday, reaching C$45.06. The company’s stock had a trading volume of 2,715,918 shares, compared to its average volume of 7,648,554. The business’s fifty day simple moving average is C$45.99 and its 200-day simple moving average is C$47.23. The company has a market capitalization of C$95.98 billion, a P/E ratio of 12.84, a P/E/G ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 29.64, a current ratio of 0.88 and a quick ratio of 0.54. Canadian Natural Resources has a fifty-two week low of C$40.02 and a fifty-two week high of C$56.49.

Insiders Place Their Bets

In related news, Senior Officer Troy John Peter Andersen sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of C$47.45, for a total value of C$901,607.00. Also, Senior Officer Dwayne Frederick Giggs sold 2,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$48.70, for a total value of C$97,405.40. Insiders sold a total of 56,152 shares of company stock valued at $2,564,465 over the last ninety days. 4.26% of the stock is currently owned by company insiders.

About Canadian Natural Resources

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).