Brokerages Set Canadian Natural Resources Limited (TSE:CNQ) Target Price at C$54.70

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$54.60.

A number of research firms have issued reports on CNQ. Raymond James Financial increased their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Wells Fargo & Company set a C$47.00 price objective on Canadian Natural Resources and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Royal Bank Of Canada decreased their target price on Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating for the company in a report on Friday, August 8th. National Bankshares boosted their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Scotiabank upped their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th.

Insider Buying and Selling

In related news, Director Stephen W. Laut sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of C$43.92, for a total value of C$307,440.00. Following the sale, the director owned 895,350 shares of the company’s stock, valued at C$39,323,772. This trade represents a 0.78% decrease in their ownership of the stock. Also, insider Ronald Keith Laing sold 20,000 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the completion of the transaction, the insider owned 2,049 shares of the company’s stock, valued at C$92,553.33. This represents a 90.71% decrease in their position. Over the last ninety days, insiders have sold 31,500 shares of company stock worth $1,415,815. Company insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Performance

TSE CNQ opened at C$44.40 on Friday. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a market cap of C$92.38 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.53 and a beta of 0.67. The stock has a 50-day moving average of C$44.04 and a two-hundred day moving average of C$43.22. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$48.92.

Canadian Natural Resources Company Profile

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.