Canadian Natural Resources Limited (TSE:CNQ) Receives C$54.40 Average Target Price from Analysts

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$54.40.

A number of equities analysts recently commented on the stock. National Bank Financial boosted their price objective on shares of Canadian Natural Resources from C$47.00 to C$54.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 3rd. Desjardins set a C$52.00 price target on Canadian Natural Resources and gave the company a “hold” rating in a report on Wednesday, December 17th. Raymond James Financial upped their price objective on Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. TD Securities raised their price objective on Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Finally, Gerdes Energy Research lowered Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, February 12th.

Canadian Natural Resources Trading Down 0.4%

TSE CNQ opened at C$58.00 on Friday. Canadian Natural Resources has a one year low of C$34.92 and a one year high of C$59.08. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The company has a market capitalization of C$120.82 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 0.53 and a beta of 0.70. The company’s 50-day simple moving average is C$48.75 and its two-hundred day simple moving average is C$45.90.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, insider Trevor Wagil sold 14,500 shares of Canadian Natural Resources stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total value of C$724,420.00. Following the transaction, the insider directly owned 14,779 shares of the company’s stock, valued at approximately C$738,358.84. The trade was a 49.52% decrease in their ownership of the stock. Also, insider Kyle Grayson Pisio sold 7,456 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of C$50.11, for a total value of C$373,620.16. Following the transaction, the insider directly owned 26,089 shares in the company, valued at approximately C$1,307,319.79. The trade was a 22.23% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 51,775 shares of company stock worth $2,571,074. 4.26% of the stock is owned by corporate insiders.

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.