Canadian Natural Resource (CNQ) Given New C$50.00 Price Target at Canaccord Genuity
A number of other research firms also recently commented on CNQ. National Bank Financial dropped their price target on shares of Canadian Natural Resource from C$66.00 to C$64.00 and set an outperform rating on the stock in a research report on Friday, August 3rd. Royal Bank of Canada downgraded shares of Canadian Natural Resource from a top pick rating to an outperform rating and dropped their price target for the stock from C$58.00 to C$55.00 in a research report on Thursday, September 20th. BMO Capital Markets dropped their price target on shares of Canadian Natural Resource from C$60.00 to C$58.00 in a research report on Tuesday, October 9th. CIBC restated an outperform rating and set a C$55.00 price target on shares of Canadian Natural Resource in a research report on Friday, October 5th. Finally, Morgan Stanley dropped their price target on shares of Canadian Natural Resource from C$64.00 to C$60.00 in a research report on Sunday, October 14th. Five analysts have rated the stock with a buy rating, Canadian Natural Resource has a consensus rating of Buy and an average target price of C$56.77.
CNQ stock opened at C$35.04 on Tuesday. Canadian Natural Resource has a 52 week low of C$34.75 and a 52 week high of C$49.08. The company has a debt-to-equity ratio of 59.09, a current ratio of 0.92 and a quick ratio of 0.61.
In other news, insider Allan E. Frankiw sold 1,000 shares of Canadian Natural Resource stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of C$42.54, for a total value of C$42,540.00. Also, insider Betty Yee sold 2,500 shares of Canadian Natural Resource stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of C$41.91, for a total transaction of C$104,775.00. Insiders sold a total of 7,800 shares of company stock worth $329,695 in the last ninety days.
Canadian Natural Resource Company Profile
Canadian Natural Resources Limited explores for, develops, produces, and markets 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, and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose.
Further Reading: Understanding Market Liquidity
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