Desjardins Reiterates “C$52.00” Price Target for Canadian Natural Resources (TSE:CNQ)

Desjardins set a C$52.00 price target on Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) in a report issued on Wednesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other analysts also recently issued reports on the company. Royal Bank Of Canada set a C$62.00 price objective on Canadian Natural Resources and gave the company an “outperform” rating in a research report on Thursday, November 20th. Scotiabank upped their target price on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. National Bankshares raised their price target 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 boosted their price objective on shares of Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$54.33.

Canadian Natural Resources Trading Up 1.3%

Shares of CNQ opened at C$43.99 on Wednesday. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$49.20. The stock has a market cap of C$91.64 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.53 and a beta of 0.73. The firm has a 50 day simple moving average of C$45.26 and a 200-day simple moving average of C$44.13.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last posted its earnings results on Thursday, November 6th. The company reported C$0.86 earnings per share (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%. Equities analysts forecast that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Buying and Selling

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