Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$72.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its target price raised by TD from C$64.00 to C$72.00 in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley dropped their price objective on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a report on Friday, January 23rd. National Bank Financial upped their price objective on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a report on Tuesday, March 31st. Canadian Imperial Bank of Commerce increased their target price on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research note on Tuesday, March 31st. Scotiabank increased their target price on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Evercore lowered shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 target price for the company. in a research note on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Canadian Natural Resources has an average rating of “Moderate Buy” and an average target price of C$63.60.

Canadian Natural Resources Trading Down 7.3%

Shares of CNQ opened at C$58.81 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.54 and a debt-to-equity ratio of 44.46. Canadian Natural Resources has a 12-month low of C$38.58 and a 12-month high of C$70.99. The firm has a 50-day moving average price of C$62.53 and a 200 day moving average price of C$51.83. The firm has a market capitalization of C$122.73 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.53 and a beta of 0.40.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$0.82 earnings per share (EPS) for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. The firm had revenue of C$9.61 billion during the quarter. Sell-side analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ronald Keith Laing sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$49.83, for a total value of C$996,600.00. Following the completion of the transaction, the insider owned 2,049 shares of the company’s stock, valued at approximately C$102,101.67. This trade represents a 90.71% decrease in their ownership of the stock. Also, insider Trevor Wagil sold 14,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the completion of the transaction, the insider directly owned 14,779 shares of the company’s stock, valued at approximately C$738,358.84. The trade was a 49.52% decrease in their position. In the last quarter, insiders have sold 74,306 shares of company stock valued at $4,159,750. 4.26% of the stock is owned by company insiders.

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.