Canadian Natural Resources (TSE:CNQ) Upgraded to Strong-Buy at Evercore ISI

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was upgraded by research analysts at Evercore ISI from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Gerdes Energy Research raised Canadian Natural Resources from a “neutral” rating to a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group decreased their price target on Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. Raymond James raised their price objective on shares of Canadian Natural Resources from C$51.00 to C$52.00 and gave the stock a “market perform” rating in a research note on Friday. 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. Finally, Royal Bank of Canada raised their price target on shares of Canadian Natural Resources from C$62.00 to C$63.00 and gave the company an “outperform” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$68.60.

Canadian Natural Resources Trading Up 2.0 %

Shares of Canadian Natural Resources stock opened at C$40.74 on Friday. The stock has a market cap of C$85.50 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The firm has a fifty day moving average price of C$43.77 and a 200 day moving average price of C$45.83. Canadian Natural Resources has a 1 year low of C$37.11 and a 1 year high of C$56.49. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54.

Insiders Place Their Bets

In other Canadian Natural Resources news, Senior Officer Mark Allen Stainthorpe sold 81,000 shares of Canadian Natural Resources stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of C$44.98, for a total transaction of C$3,643,380.00. Also, Senior Officer Robin Sean Zabek sold 19,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of C$43.07, for a total transaction of C$818,254.00. In the last three months, insiders sold 146,932 shares of company stock worth $6,613,689. Corporate insiders own 4.26% of the company’s stock.

Canadian Natural Resources Company Profile

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.