Desjardins Lowers Canadian Natural Resources (TSE:CNQ) Price Target to C$49.00

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) had its price target reduced by Desjardins from C$51.00 to C$49.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on CNQ. Jefferies Financial Group reduced their target price on shares of Canadian Natural Resources from C$54.00 to C$50.00 in a report on Thursday, January 30th. CIBC upped their target price on Canadian Natural Resources from C$59.00 to C$62.00 in a research report on Thursday, April 10th. Gerdes Energy Research upgraded Canadian Natural Resources from a “neutral” rating to a “buy” rating in a research note on Monday, December 16th. Raymond James upgraded Canadian Natural Resources from a “market perform” rating to an “outperform” rating and reduced their price target for the company from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. Finally, Evercore ISI raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$59.62.

Canadian Natural Resources Trading Up 0.6 %

Shares of Canadian Natural Resources stock opened at C$38.21 on Tuesday. The company has a debt-to-equity ratio of 25.79, a current ratio of 0.84 and a quick ratio of 0.54. The business has a fifty day simple moving average of C$41.59 and a two-hundred day simple moving average of C$44.74. Canadian Natural Resources has a 1 year low of C$34.92 and a 1 year high of C$54.30. The company has a market capitalization of C$80.19 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.53 and a beta of 1.89.

Insider Transactions at Canadian Natural Resources

In other Canadian Natural Resources news, Senior Officer Trevor Wagil sold 4,504 shares of Canadian Natural Resources stock in a transaction dated Monday, March 10th. The stock was sold at an average price of C$40.86, for a total value of C$184,046.95. Also, Senior Officer Calvin John Bast sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of C$41.80, for a total value of C$313,500.00. In the last 90 days, insiders sold 47,184 shares of company stock valued at $2,047,408. Company 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.