Canadian Natural Resources Limited (TSE:CNQ) Receives C$61.31 Consensus Price Target from Brokerages

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$63.00.

Several equities research analysts recently weighed in on the company. Desjardins upped their price target on Canadian Natural Resources from C$52.00 to C$56.00 and gave the stock a “hold” rating in a research note on Monday, March 9th. TD Securities upped their price target on Canadian Natural Resources from C$51.00 to C$64.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Jefferies Financial Group upped their price target on Canadian Natural Resources from C$48.00 to C$59.00 in a research note on Monday, March 16th. Royal Bank Of Canada increased their target price on Canadian Natural Resources from C$65.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Scotiabank increased their target price on Canadian Natural Resources from C$58.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th.

Insider Transactions at Canadian Natural Resources

In other news, Director Gordon D. Giffin sold 25,000 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the sale, the director directly owned 171,210 shares of the company’s stock, valued at approximately C$11,643,992.10. This represents a 12.74% decrease in their ownership of the stock. Also, insider Trevor Wagil sold 14,500 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of C$49.96, for a total value of C$724,420.00. Following the completion of the sale, the insider directly owned 14,779 shares in the company, valued at approximately C$738,358.84. This represents a 49.52% decrease in their ownership of the stock. In the last 90 days, insiders sold 74,306 shares of company stock valued at $4,159,750. 4.26% of the stock is currently owned by corporate insiders.

Canadian Natural Resources Price Performance

Shares of CNQ stock opened at C$64.12 on Monday. The stock has a market cap of C$133.81 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 0.53 and a beta of 0.40. The business’s fifty day moving average is C$60.95 and its 200 day moving average is C$50.96. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$70.99. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46.

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

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.