Canadian Natural Resources Limited (TSE:CNQ) Receives C$63.60 Consensus Price Target from Analysts

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$63.60.

CNQ has been the topic of several research reports. Desjardins raised their price objective on shares of Canadian Natural Resources from C$52.00 to C$56.00 and gave the stock a “hold” rating in a research report on Monday, March 9th. Morgan Stanley lowered their price objective on shares of Canadian Natural Resources from C$51.00 to C$50.00 in a research report on Friday, January 23rd. Scotiabank raised their target price on shares of Canadian Natural Resources from C$58.00 to C$62.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Raymond James Financial upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Thursday. Finally, National Bank Financial lifted their price target on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 31st.

Insider Activity at Canadian Natural Resources

In related news, Director Gordon D. Giffin sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the completion of the sale, the director directly owned 171,210 shares in the company, valued at approximately C$11,643,992.10. The trade was a 12.74% decrease in their ownership of the stock. 4.26% of the stock is currently owned by company insiders.

Canadian Natural Resources Stock Down 2.1%

Canadian Natural Resources stock opened at C$60.96 on Friday. The company has a market capitalization of C$127.21 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.53 and a beta of 0.48. Canadian Natural Resources has a fifty-two week low of C$40.62 and a fifty-two week high of C$70.99. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95. The firm has a 50 day moving average price of C$64.03 and a 200 day moving average price of C$53.41.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, May 7th. The company reported C$1.17 EPS for the quarter. The firm had revenue of C$10.81 billion for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. Research analysts expect that Canadian Natural Resources will post 3.833989 earnings per share for the current year.

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.