Canadian Natural Resources (TSE:CNQ) Announces Quarterly Earnings Results

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) issued its earnings results on Thursday. The company reported C$0.82 earnings per share for the quarter, FiscalAI reports. Canadian Natural Resources had a return on equity of 16.47% and a net margin of 15.49%.

Canadian Natural Resources Stock Up 2.9%

Canadian Natural Resources stock traded up C$1.72 during midday trading on Thursday, reaching C$61.96. The company’s stock had a trading volume of 22,623,186 shares, compared to its average volume of 12,431,591. The stock has a market capitalization of C$129.07 billion, a P/E ratio of 19.55, a PEG ratio of 0.53 and a beta of 0.70. The company has a debt-to-equity ratio of 42.68, a current ratio of 0.86 and a quick ratio of 0.54. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$62.70. The stock’s 50-day simple moving average is C$51.17 and its 200-day simple moving average is C$46.90.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, insider Trevor Wagil sold 14,500 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the transaction, the insider directly owned 14,779 shares of the company’s stock, valued at C$738,358.84. This trade represents a 49.52% decrease in their ownership of the stock. Also, insider Brenda Gayle Balog sold 2,252 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total value of C$112,554.96. Following the sale, the insider owned 47,965 shares of the company’s stock, valued at approximately C$2,397,290.70. This trade represents a 4.48% decrease in their ownership of the stock. Over the last three months, insiders have sold 51,775 shares of company stock valued at $2,571,074. 4.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. National Bank Financial lifted their target price on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Morgan Stanley lowered their target price on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Royal Bank Of Canada lowered their price objective on shares of Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Desjardins set a C$52.00 price objective on Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. Finally, Evercore downgraded Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$54.40.

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.