Canadian Natural Resources (TSE:CNQ) Given New C$54.00 Price Target at National Bankshares

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target raised by analysts at National Bankshares from C$47.00 to C$54.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ price objective points to a potential upside of 6.30% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada cut their target price on shares of Canadian Natural Resources from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Desjardins set a C$52.00 target price on shares of Canadian Natural Resources and gave the stock a “hold” rating in a report on Wednesday, December 17th. Scotiabank increased their price target on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Raymond James Financial increased their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a report on Monday, November 10th. Finally, Morgan Stanley dropped their price target on Canadian Natural Resources from C$51.00 to C$50.00 in a research note on Friday, January 23rd. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$54.40.

Canadian Natural Resources Stock Up 1.8%

CNQ traded up C$0.89 during trading hours on Tuesday, hitting C$50.80. 2,757,704 shares of the company’s stock were exchanged, compared to its average volume of 12,783,757. The stock’s 50-day moving average is C$46.61 and its two-hundred day moving average is C$44.79. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. Canadian Natural Resources has a 1-year low of C$34.92 and a 1-year high of C$51.72. The stock has a market cap of C$105.82 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.53 and a beta of 0.71.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last announced its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 earnings per share for the quarter. The company had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. Sell-side analysts predict that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Activity at Canadian Natural Resources

In other Canadian Natural Resources news, insider Trevor Wagil sold 2,469 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$45.19, for a total value of C$111,574.11. Following the completion of the transaction, the insider owned 14,779 shares of the company’s stock, valued at C$667,863.01. This represents a 14.31% decrease in their position. 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.