Canadian Natural Resources (TSE:CNQ) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective increased by equities research analysts at ATB Cormark Capital Markets from C$56.00 to C$65.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target suggests a potential upside of 2.90% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Desjardins set a C$52.00 target price on Canadian Natural Resources and gave the company a “hold” rating in a research note on Wednesday, December 17th. Morgan Stanley decreased their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. Gerdes Energy Research lowered shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th. National Bank Financial boosted their target price on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 3rd. Finally, TD Securities upped their target price on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research note on Monday, November 10th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Canadian Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of C$58.42.

Canadian Natural Resources Trading Up 2.0%

Shares of Canadian Natural Resources stock traded up C$1.21 during trading hours on Friday, reaching C$63.17. 5,804,543 shares of the company’s stock were exchanged, compared to its average volume of 12,278,394. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$64.00. The company has a fifty day moving average of C$51.50 and a 200-day moving average of C$47.00. The company has a current ratio of 0.86, a quick ratio of 0.54 and a debt-to-equity ratio of 42.68. The firm has a market capitalization of C$131.59 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings results on Thursday, March 5th. The company reported C$0.82 earnings per share for the quarter. Canadian Natural Resources had a net margin of 15.49% and a return on equity of 16.47%. Sell-side analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Activity

In other Canadian Natural Resources news, insider Ronald Keith Laing sold 20,000 shares of the stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$49.83, for a total transaction of C$996,600.00. Following the transaction, the insider directly owned 2,049 shares in the company, valued at C$102,101.67. This represents a 90.71% decrease in their position. Also, insider Erin Louise Lunn sold 2,252 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total transaction of C$111,879.36. Following the completion of the sale, the insider directly owned 51,142 shares of the company’s stock, valued at C$2,540,734.56. The trade was a 4.22% decrease in their position. Insiders sold a total of 51,775 shares of company stock worth $2,571,074 over the last ninety days. Insiders own 4.26% of the company’s stock.

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.