Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$65.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price boosted by Royal Bank Of Canada from C$61.00 to C$65.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 2.90% from the stock’s current price.

CNQ has been the subject of a number of other reports. National Bank Financial upped their price objective 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. Desjardins set a C$52.00 price target on shares of Canadian Natural Resources and gave the company a “hold” rating in a research report on Wednesday, December 17th. BMO Capital Markets raised their price objective on shares of Canadian Natural Resources from C$50.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley dropped their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. Finally, Gerdes Energy Research lowered Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$58.42.

Canadian Natural Resources Price Performance

Canadian Natural Resources stock traded up C$1.21 during midday trading on Friday, hitting C$63.17. The company’s stock had a trading volume of 5,804,543 shares, compared to its average volume of 12,278,394. The stock’s 50-day moving average price is C$51.50 and its 200-day moving average price is C$47.00. The company has a market capitalization of C$131.59 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 0.53 and a beta of 0.81. The company has a quick ratio of 0.54, a current ratio of 0.86 and a debt-to-equity ratio of 42.68. Canadian Natural Resources has a 12 month low of C$34.92 and a 12 month high of C$64.00.

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

Insider Activity

In related news, insider Erin Louise Lunn sold 2,252 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of C$49.68, for a total value of C$111,879.36. Following the transaction, the insider directly owned 51,142 shares of the company’s stock, valued at approximately C$2,540,734.56. This trade represents a 4.22% decrease in their position. Also, insider Brenda Gayle Balog sold 2,252 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.98, for a total transaction of C$112,554.96. Following the completion of the sale, the insider owned 47,965 shares of the company’s stock, valued at C$2,397,290.70. The trade was a 4.48% decrease in their ownership of the stock. Over the last three months, insiders sold 51,775 shares of company stock valued at $2,571,074. Corporate 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.