Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$54.00 at National Bankshares

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective raised by analysts at National Bankshares from C$47.00 to C$54.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 6.30% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company set a C$47.00 target price on shares of Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th. Royal Bank Of Canada decreased their price objective on Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Desjardins set a C$52.00 price objective on shares of Canadian Natural Resources and gave the stock a “hold” rating in a research note on Wednesday, December 17th. TD Securities boosted their target price on Canadian Natural Resources from C$53.00 to C$54.00 in a report on Monday, November 10th. Finally, Evercore Partners lowered Canadian Natural Resources from an “outperform” rating to an “in-line” rating and set a C$50.00 price objective on the stock. in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$54.40.

Canadian Natural Resources Stock Performance

CNQ traded up C$0.89 during trading on Tuesday, hitting C$50.80. The stock had a trading volume of 2,757,704 shares, compared to its average volume of 12,783,757. The firm has a market cap of C$105.82 billion, a PE ratio of 16.03, a P/E/G ratio of 0.53 and a beta of 0.71. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$51.72. The company has a 50 day simple moving average of C$46.61 and a 200-day simple moving average of C$44.79.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. The business had revenue of C$9.52 billion for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. Analysts expect that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Buying and Selling at Canadian Natural Resources

In related news, insider Trevor Wagil sold 2,469 shares of Canadian Natural Resources stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total transaction of C$111,574.11. Following the completion of the sale, the insider directly owned 14,779 shares of the company’s stock, valued at C$667,863.01. The trade was a 14.31% decrease in their ownership of the stock. 4.26% of the stock is currently owned by company 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.