Canadian Natural Resources Limited (TSE:CNQ) Stock Rated “Moderate Buy” by Sell-Side Analysts

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$67.12.

CNQ has been the topic of several research reports. TD upped their price target on Canadian Natural Resources from C$72.00 to C$73.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Raymond James Financial lifted their price objective on shares of Canadian Natural Resources from C$66.00 to C$70.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian Natural Resources from C$70.00 to C$75.00 in a research note on Thursday, August 27th. Gerdes Energy Research upgraded shares of Canadian Natural Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from C$67.00 to C$69.00 in a research report on Monday, June 29th. Finally, Scotiabank raised shares of Canadian Natural Resources to a “hold” rating in a research report on Friday, June 26th.

Canadian Natural Resources Price Performance

Shares of Canadian Natural Resources stock opened at C$69.10 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.00 and a debt-to-equity ratio of 36.64. The firm has a market cap of C$142.45 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.53 and a beta of 0.38. Canadian Natural Resources has a fifty-two week low of C$41.67 and a fifty-two week high of C$72.35. The business has a 50-day moving average price of C$68.02 and a 200 day moving average price of C$64.74.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, August 6th. The company reported C$2.19 EPS for the quarter. The company had revenue of C$14.74 billion for the quarter. Canadian Natural Resources had a return on equity of 26.67% and a net margin of 24.93%. On average, sell-side analysts forecast that Canadian Natural Resources will post 3.833989 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shelley Ann Marie Brown bought 709 shares of the stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of C$70.44 per share, with a total value of C$49,941.96. Following the completion of the acquisition, the director owned 1,780 shares of the company’s stock, valued at C$125,383.20. This trade represents a 66.20% increase in their ownership of the stock. 4.26% of the stock is currently owned by 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.