Canadian Natural Resources Limited (TSE:CNQ) Receives C$54.70 Consensus Price Target from Analysts

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$54.70.

CNQ has been the subject of a number of research reports. Royal Bank Of Canada set a C$62.00 target price on shares of Canadian Natural Resources and gave the company an “outperform” rating in a report on Thursday, November 20th. Desjardins lowered Canadian Natural Resources from a “buy” rating to a “hold” rating and set a C$52.00 price target on the stock. in a report on Monday, November 24th. Scotiabank upped their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Raymond James Financial increased their price objective on Canadian Natural Resources from C$55.00 to C$56.00 in a research report on Monday, November 10th. Finally, National Bankshares lifted their target price on Canadian Natural Resources from C$45.00 to C$48.00 and gave the company a “sector perform” rating in a research note on Friday, November 7th.

Canadian Natural Resources Price Performance

CNQ stock opened at C$48.09 on Tuesday. The company has a market capitalization of C$100.18 billion, a P/E ratio of 15.17, a PEG ratio of 0.53 and a beta of 0.67. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$49.20. The business has a 50 day simple moving average of C$45.17 and a 200-day simple moving average of C$43.92. 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 (TSE:CNQ) (NYSE:CNQ) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. The firm had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a net margin of 21.25% and a return on equity of 19.14%. As a group, equities analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, insider Brenda Gayle Balog sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of C$45.55, for a total value of C$204,975.00. Following the transaction, the insider directly owned 47,965 shares of the company’s stock, valued at approximately C$2,184,805.75. The trade was a 8.58% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of the company’s stock in a transaction 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 transaction, the insider owned 2,049 shares of the company’s stock, valued at approximately C$92,553.33. The trade was a 90.71% decrease in their position. Insiders have sold a total of 31,500 shares of company stock worth $1,415,815 in the last three months. 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.