Canadian Natural Resources (TSE:CNQ) Downgraded by Desjardins to Hold

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by analysts at Desjardins from a “buy” rating to a “hold” rating in a research report issued on Tuesday, BayStreet.CA reports. They currently have a C$110.00 price target on the stock, up from their previous price target of C$104.00. Desjardins’ price target points to a potential upside of 4.33% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their target price on shares of Canadian Natural Resources from C$100.00 to C$120.00 in a report on Tuesday, April 9th. CIBC upped their target price on shares of Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a report on Monday. TD Securities upped their target price on shares of Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a “buy” rating in a report on Friday, March 1st. UBS Group boosted their price target on shares of Canadian Natural Resources from C$113.00 to C$124.00 in a research note on Tuesday, April 9th. Finally, BMO Capital Markets boosted their price target on shares of Canadian Natural Resources from C$110.00 to C$115.00 in a research note on Thursday, March 28th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$111.00.

Canadian Natural Resources Trading Up 0.2 %

Shares of Canadian Natural Resources stock opened at C$105.43 on Tuesday. The company has a market capitalization of C$112.81 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.53 and a beta of 1.98. The company has a debt-to-equity ratio of 31.01, a quick ratio of 0.54 and a current ratio of 0.96. The company has a fifty day moving average of C$99.87 and a 200 day moving average of C$91.64. Canadian Natural Resources has a fifty-two week low of C$69.83 and a fifty-two week high of C$112.99.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share for the quarter, topping the consensus estimate of C$2.14 by C$0.20. The company had revenue of C$9.55 billion during the quarter, compared to the consensus estimate of C$9.04 billion. Canadian Natural Resources had a net margin of 22.89% and a return on equity of 21.11%. On average, sell-side analysts anticipate that Canadian Natural Resources will post 7.6092114 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Trevor Wagil sold 1,126 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of C$86.33, for a total transaction of C$97,204.88. In other news, Senior Officer Calvin John Bast sold 3,750 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of C$97.62, for a total transaction of C$366,058.88. Also, Senior Officer Trevor Wagil sold 1,126 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of C$86.33, for a total transaction of C$97,204.88. In the last three months, insiders have sold 332,363 shares of company stock worth $32,567,851. 2.20% of the stock is currently owned by corporate insiders.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).