Canadian Natural Resources (TSE:CNQ) Given a C$62.00 Price Target at Royal Bank Of Canada

Royal Bank Of Canada set a C$62.00 target price on Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a research note released on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also issued reports on CNQ. National Bankshares increased their target price on shares of Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. TD Securities lifted their price target on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Wells Fargo & Company set a C$47.00 price objective on shares of Canadian Natural Resources and gave the company an “equal weight” rating in a research note on Friday, October 17th. Raymond James Financial lifted their price objective on shares of Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Finally, Scotiabank upped their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$54.40.

Canadian Natural Resources Stock Up 0.2%

Shares of TSE:CNQ opened at C$47.90 on Thursday. The firm has a market cap of C$99.78 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.53 and a beta of 0.67. Canadian Natural Resources has a 12-month low of C$34.92 and a 12-month high of C$49.20. The business has a fifty day simple moving average of C$44.66 and a 200 day simple moving average of C$43.57. The company has a quick ratio of 0.54, a current ratio of 0.84 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$0.29 EPS for the quarter. The firm had revenue of C$9.52 billion for the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. Analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

Insider Activity at Canadian Natural Resources

In related news, Director Stephen W. Laut sold 7,000 shares of Canadian Natural Resources stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of C$43.92, for a total value of C$307,440.00. Following the completion of the sale, the director owned 895,350 shares of the company’s stock, valued at approximately C$39,323,772. This trade represents a 0.78% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of C$45.17, for a total transaction of C$903,400.00. Following the sale, the insider owned 2,049 shares in the company, valued at C$92,553.33. The trade was a 90.71% decrease in their ownership of the stock. Over the last quarter, insiders have sold 31,500 shares of company stock worth $1,415,815. 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.