Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$52.00 at Raymond James

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective increased by investment analysts at Raymond James from C$51.00 to C$52.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 27.45% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets lowered their price target on shares of Canadian Natural Resources from C$60.00 to C$58.00 in a report on Friday, December 13th. Wells Fargo & Company cut their price target on Canadian Natural Resources from C$50.00 to C$44.00 in a report on Friday. Royal Bank of Canada raised their price objective on Canadian Natural Resources from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a report on Friday. National Bankshares lowered their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Tudor Pickering lowered shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$68.60.

Canadian Natural Resources Price Performance

Shares of CNQ traded up C$0.85 during trading hours on Friday, reaching C$40.80. 4,300,082 shares of the company traded hands, compared to its average volume of 9,381,774. The stock has a fifty day simple moving average of C$43.82 and a 200 day simple moving average of C$45.89. Canadian Natural Resources has a fifty-two week low of C$37.11 and a fifty-two week high of C$56.49. The stock has a market capitalization of C$85.62 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79.

Insider Transactions at Canadian Natural Resources

In related news, Senior Officer Troy John Peter Andersen sold 19,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of C$47.45, for a total value of C$901,607.00. Also, Director Stephen W. Laut sold 3,180 shares of Canadian Natural Resources stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of C$43.95, for a total value of C$139,761.00. Over the last three months, insiders have sold 146,932 shares of company stock valued at $6,613,689. 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.