Canadian Natural Resources (TSE:CNQ) Price Target Raised to C$54.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price objective raised by stock analysts at TD Securities from C$53.00 to C$54.00 in a research note issued to investors on Monday,BayStreet.CA reports. TD Securities’ price objective would suggest a potential upside of 21.43% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CNQ. Raymond James Financial increased their target price on Canadian Natural Resources from C$52.00 to C$54.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Royal Bank Of Canada lowered their price objective on Canadian Natural Resources from C$64.00 to C$62.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Wells Fargo & Company set a C$47.00 target price on shares of Canadian Natural Resources and gave the stock an “equal weight” rating in a report on Friday, October 17th. National Bankshares lifted their target price on shares of Canadian Natural Resources from C$45.00 to C$48.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Scotiabank increased their price target on shares of Canadian Natural Resources from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Canadian Natural Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$54.40.

Canadian Natural Resources Trading Up 0.2%

Shares of Canadian Natural Resources stock traded up C$0.07 during trading on Monday, reaching C$44.47. The company’s stock had a trading volume of 2,430,111 shares, compared to its average volume of 14,403,603. The company has a quick ratio of 0.54, a current ratio of 0.84 and a debt-to-equity ratio of 25.79. Canadian Natural Resources has a 52-week low of C$34.92 and a 52-week high of C$48.92. The firm’s 50-day moving average is C$44.04 and its two-hundred day moving average is C$43.22. The company has a market cap of C$92.52 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.53 and a beta of 0.67.

Insider Buying and Selling at Canadian Natural Resources

In other Canadian Natural Resources news, Director Stephen W. Laut sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of C$43.92, for a total transaction of C$307,440.00. Following the transaction, the director owned 895,350 shares in the company, valued at approximately C$39,323,772. This represents a 0.78% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of Canadian Natural Resources stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of C$45.17, for a total value of C$903,400.00. Following the sale, the insider owned 2,049 shares in the company, valued at C$92,553.33. This represents a 90.71% decrease in their ownership of the stock. In the last three months, insiders have sold 31,500 shares of company stock valued at $1,415,815. 4.26% of the stock is currently owned by corporate insiders.

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.