Canadian Natural Resources Limited (TSE:CNQ) Receives C$54.08 Consensus Target Price from Analysts

Shares of Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$54.08.

A number of research analysts have recently commented on the stock. Raymond James raised shares of Canadian Natural Resources from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from C$52.00 to C$49.00 in a research report on Wednesday, April 9th. National Bankshares decreased their price objective on shares of Canadian Natural Resources from C$51.00 to C$49.00 and set a “sector perform” rating for the company in a research report on Friday, March 7th. CIBC lifted their price objective on shares of Canadian Natural Resources from C$59.00 to C$62.00 in a research report on Thursday, April 10th. Jefferies Financial Group decreased their price objective on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a research report on Thursday, January 30th. Finally, Tudor Pickering downgraded shares of Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 10th.

Insider Activity

In related news, Senior Officer Trevor Wagil sold 4,504 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$40.86, for a total transaction of C$184,046.95. Also, Senior Officer Calvin John Bast sold 7,500 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of C$41.80, for a total transaction of C$313,500.00. Insiders sold a total of 39,004 shares of company stock worth $1,689,802 over the last quarter. Insiders own 4.26% of the company’s stock.

Canadian Natural Resources Stock Down 0.4%

Shares of CNQ stock opened at C$42.73 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.54 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$53.03. The firm’s fifty day moving average price is C$41.25 and its two-hundred day moving average price is C$43.48. The firm has a market capitalization of C$89.67 billion, a P/E ratio of 11.86, a PEG ratio of 0.53 and a beta of 1.89.

About Canadian Natural Resources

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.