Ronald Keith Laing Sells 20,000 Shares of Canadian Natural Resources (TSE:CNQ) Stock

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) insider Ronald Keith Laing sold 20,000 shares of the stock in a transaction 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 transaction, the insider owned 2,049 shares in the company, valued at C$92,553.33. This trade represents a 90.71% decrease in their ownership of the stock.

Canadian Natural Resources Trading Down 4.2%

TSE CNQ opened at C$43.97 on Friday. Canadian Natural Resources Limited has a 12 month low of C$34.92 and a 12 month high of C$52.15. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The company has a market capitalization of C$91.48 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.53 and a beta of 0.88. The company’s fifty day moving average price is C$43.38 and its two-hundred day moving average price is C$42.67.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CNQ shares. Scotiabank raised their price target on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Royal Bank Of Canada reduced their price target on shares of Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial raised their price target on shares of Canadian Natural Resources from C$52.00 to C$54.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$54.64.

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.