Canadian Natural Resources (TSE:CNQ) Stock Rating Lowered by Desjardins

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Monday,BayStreet.CA reports. They currently have a C$52.00 price objective on the stock. Desjardins’ price target suggests a potential upside of 11.78% from the company’s current price.

CNQ has been the subject of a number of other reports. TD Securities increased their price target on Canadian Natural Resources from C$53.00 to C$54.00 in a research report on Monday, November 10th. Raymond James Financial boosted their target price on Canadian Natural Resources from C$55.00 to C$56.00 in a research note on Monday, November 10th. Scotiabank boosted their price objective on Canadian Natural Resources from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. National Bankshares lifted their target price on 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, November 7th. Finally, Wells Fargo & Company set a C$47.00 price target on shares of Canadian Natural Resources and gave the stock an “equal weight” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$54.70.

Canadian Natural Resources Stock Down 1.3%

Shares of CNQ traded down C$0.59 on Monday, reaching C$46.52. The company’s stock had a trading volume of 2,850,946 shares, compared to its average volume of 14,324,583. Canadian Natural Resources has a twelve month low of C$34.92 and a twelve month high of C$49.20. The stock has a market capitalization of C$96.91 billion, a PE ratio of 14.68, a PEG ratio of 0.53 and a beta of 0.67. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 25.79. The firm has a fifty day moving average of C$44.74 and a 200-day moving average of C$43.68.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.86 EPS for the quarter. The firm had revenue of C$9.52 billion during the quarter. Canadian Natural Resources had a return on equity of 19.14% and a net margin of 21.25%. Equities analysts predict that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stephen W. Laut sold 7,000 shares of the business’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 value of C$307,440.00. Following the completion of the sale, the director owned 895,350 shares in the company, valued at C$39,323,772. The trade was a 0.78% decrease in their position. Also, insider Ronald Keith Laing sold 20,000 shares of the 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 transaction of C$903,400.00. Following the transaction, the insider owned 2,049 shares in the company, valued at C$92,553.33. The trade was a 90.71% decrease in their ownership of the stock. Insiders sold a total of 31,500 shares of company stock valued at $1,415,815 over the last 90 days. Insiders own 4.26% of the company’s stock.

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.