JPMorgan Chase & Co. Issues Positive Forecast for Canadian Natural Resources (TSE:CNQ) Stock Price

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from C$48.00 to C$70.00 in a research report issued on Tuesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target points to a potential upside of 2.85% from the stock’s previous close.

CNQ has been the topic of a number of other reports. Royal Bank Of Canada boosted their price objective on shares of Canadian Natural Resources from C$61.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. National Bank Financial boosted their price objective on shares of Canadian Natural Resources from C$59.00 to C$90.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 31st. Evercore downgraded shares of Canadian Natural Resources from an “outperform” rating to a “hold” rating and set a C$50.00 price objective on the stock. in a research report on Tuesday, January 6th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Natural Resources from C$52.00 to C$54.00 in a research report on Tuesday, March 31st. Finally, Gerdes Energy Research downgraded shares of Canadian Natural Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Natural Resources currently has an average rating of “Hold” and an average target price of C$61.93.

Canadian Natural Resources Trading Up 1.2%

Shares of TSE CNQ traded up C$0.83 during mid-day trading on Tuesday, hitting C$68.06. The stock had a trading volume of 3,659,689 shares, compared to its average volume of 16,473,545. The company has a debt-to-equity ratio of 44.46, a quick ratio of 0.54 and a current ratio of 0.95. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$70.99. The business has a 50 day moving average price of C$60.30 and a two-hundred day moving average price of C$50.69. The firm has a market cap of C$142.03 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, March 5th. The company reported C$0.82 EPS for the quarter. Canadian Natural Resources had a net margin of 26.06% and a return on equity of 25.98%. The company had revenue of C$9.61 billion for the quarter. On average, equities analysts anticipate that Canadian Natural Resources will post 3.833989 EPS for the current fiscal year.

Insider Activity

In other news, Director Gordon D. Giffin sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of C$68.01, for a total transaction of C$1,700,250.00. Following the sale, the director owned 171,210 shares in the company, valued at approximately C$11,643,992.10. The trade was a 12.74% decrease in their position. Also, insider Trevor Wagil sold 14,500 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of C$49.96, for a total transaction of C$724,420.00. Following the sale, the insider owned 14,779 shares in the company, valued at approximately C$738,358.84. This trade represents a 49.52% decrease in their position. In the last quarter, insiders have sold 74,306 shares of company stock worth $4,159,750. 4.26% of the stock is currently 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.